No Bull Market In US Dollar (w/ Russell Clark) | Interview | Real Vision™

Russell Clark of Horseman Capital has been building a short thesis on US shale oil and semiconductor stocks. He thinks that the decline in shale sand efficiency will be a force that drives the oil price higher and put downward pressure on the USD as future foreign investment diverts away from the US to alternative international opportunities. Filmed on October 11, 2018 in London.
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No Bull Market In US Dollar (w/ Russell Clark) | Interview | Real Vision™
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Transcript:
The US dollar really peaked in 2015. Yen topped out at what 125 in 2015? Euro bottomed at like 105? So here we are two years later-- two, three years there and yen is now, what, 112 to 13, that sort of level? Euro's 115. Even sterling's up off the lows.
So this idea of an unstoppable bull market in dollars is actually not true, even with all the interest rate increases. There is some good technical reasons for that. Now, against some of the more weaker emerging market currencies, definitely-- the Indian rupee, the countries with big capital current account deficits-- and oil importers. You're starting to see even that begin to transition.
So the dollar bull market is not really that real, especially against the G10.