财经: 美元想雄起,或能迎来牛市_BEC初级作文

财经: 美元想雄起,或能迎来牛市

Columbia Management的投资组合经理尼古拉斯·皮弗(Nicholas Pifer)说：“美国步出困境的速度比其他发达经济体更快，这一点已越来越明显。”

This relative US outperformance is restoring the role of interest rates to foreign exchange markets. Put simply, the rise in the dollar is attracting more foreign investors wanting to own US assets that generate additional currency gain. Even as the Federal Reserve has been buying heavily US Treasury bonds under its quantitative easing programme – which should send bond prices higher and yields lower – yields have been rising against those of German Bunds and Japanese government bonds, boosting the dollar. 美国经济相对较好的表现逐渐恢复了利率对外汇市场的作用。简言之，美元走强正吸引更多外国投资者持有美国资产，以获取额外的汇率收益。恒星Shaun.

“The best explanation for this latest leg up in the dollar is growth differentials mediated by interest rate differentials,” says Marc Chandler, global head of currency strategy at Brown Brothers Harriman.

即使美联储一直在通过量化宽松计划大量购买美国国债（此举按说会推高美国国债价格、拉低其收益率），美国国债收益率相对德国和日本国债也一直在升高，这对美元具有提振作用。

Alan Ruskin, global head of currency strategy at Deutsche Bank, says: “We are getting back to a traditional cycle where the US is at the forefront of a recovery.”