It isn’t a happy new year for dollar bulls. The U.S. currency has started 2018 by falling to a three-year low as measured by the ICE dollar index and is putting a decent dent into its big rally of 2014-15. The weak dollar has consequences elsewhere for central banks and markets—but isn’t necessarily something to be feared. The dollar’s January move is broad, slipping against the euro, the yen and the yuan among others. Taking 2017 and 2018 together, the big winner is the euro, up 16.5% and now close to $1.23, its highest...

Source: Wall Street Journal January 15, 2018 13:41 UTC