US Dollar Has a Powerful Motor but Flimsy Drivers: Ashmore

        0826 GMT [Dow Jones] The U.S. dollar's sustained rise in recent weeks is indication that the currency has several drivers that collectively are powerful, but individually are flimsy, says Ashmore head of research Jan Dehn. Dehn argues that there are several factors affecting the dollar, among these are expectations of stronger U.S. growth, a rate hike at the Federal Reserve, dollar purchases by Japan's Government Pension Investment Fund and hopes of quantitative easing in Europe. "U.S. dollar longs get ever-more pregnant. This is a negative technical that will eventually unwind, but probably not until everyone is up to the limit on U.S. dollar exposure," he says. (jake.watts@wsj.com; Twitter: @jmwatts_)
        (END) Dow Jones Newswires
        November 13, 2014 03:26 ET (08:26 GMT)