Still, to be able to incur a loss on financial assets in 2017 must take some doing. The dollar supply was not rising as much as the supply of the euro or the Japanese yen. In terms of current account, the US current account deficit has been around 2.5% of gross domestic product (GDP) in the last several years. In contrast, the eurozone had a current account surplus of 3.2% of GDP in the 12 months to October 2017. Eurozone’s current account surpluses have dominated the large asset purchases of the ECB and negative interest rates.

Source: Mint January 15, 2018 18:11 UTC