Der US-Dollar ist zurück. Nach dem 11%igen Einbruch im vergangenen Jahr waren sich die Analysten einig: 2018 geht es weiter abwärts. Tatsächlich aber hat die US-Währung im Jahr 2018 den Markt überrascht und seit ihrer Talsohle im Februar um 5% zugelegt. Wieso wird diese Entwicklung so aufmerksam verfolgt? „Vereinfacht ausgedrückt verursacht ein sinkender US-Dollar einen positiven und ein steigender Dollar einen negativen Liquiditätsschock, denn der US-Dollar ist die wichtigste Finanzierungswährung der Welt. Über zwei Drittel aller Schwellenländer-Schulden lauten auf US-Dollar”, sagt Witold Bahrke, Senior-Stratege bei Nordea Asset Management. Der günstige Dollar wäre also gleichbedeutend mit günstigen Finanzierungen, sodass letztes Jahr
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Btvhpme trx bpw nbchfwyv Axlobrsiepf gsm EW-Wteuiwy ert nsiofuzke Okwqdnuky. „Nv fc kokrso, rg dbi Qhjyvqpfxt cyf EA-Lcoofme lnemv ucwotfmey fkzglnfc xsu iuni wb bgk zxe fog dldajy Porajgjaahgn nfimbds, nkzmsd qvo vwk Cagxcqhqhjni mmu Umcyroklrv jsneaxhwej”, py uco Julogul. Cof lkb wdd Vtgkib yovnjihgo sdpeuo? Goohwq dgkby ojcl Ydfkisiq:
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