Bet against dollar at own peril, major money managers say

New York

THE dollar's weak start to 2016 is showing signs of a turnaround as doubts about the economic outlook fade, according to US Bank Wealth Management and Pioneer Investments.

Traders who almost completely rule out a Federal Reserve interest-rate increase this year are confronted with data showing that the US economy is growing at a faster pace than its major peers. A forecasting tool created by the Fed Bank of Atlanta indicates US growth in the first quarter of 2.6 per cent at an annual rate, exceeding 1.6 per cent average for Group of Eight countries, according to Bloomberg surveys.