Wells Fargo: The market will sell the dollar on rallies in the foreseeable future

ChainCatcher news, according to Jinshi reports, Erik Nelson, the head of foreign exchange strategy for the G10 at Wells Fargo, stated: "We have been trading in an environment of American exceptionalism, and the U.S. is undoubtedly the strongest economy in the world.

In my view, the situation has changed; there are potential structural concerns—such as the independence of the Federal Reserve and the quality of data, among others. When it comes to the economic backdrop, all of these are moving in the wrong direction. In the foreseeable future, people will tend to sell the dollar on rallies."