Deutsche Bank bearish on the dollar

Deutsche Bank’s global currency strategist is bearish on the dollar.

If the U.S. market gets riskier, the dollar no longer works as a safe-haven.

Instead of rallying during periods of risk aversion, a chart of the dollar’s relationship with equities demonstrates, according to Saravelos, this not to be true. Saravelos points out that over the past year the dollar has de-correlated from the S&P

If the dollar is unattractive as a portfolio hedge, the more incentive there is to reduce dollar exposure.

MarketWatch Feb. 12, 2026

https://www.marketwatch.com/story/currency-strategist-who-incurred-bessents-wrath-exposes-safe-haven-myth-of-the-dollar-b4e1125d


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