AllianzGI Sees ‘Good Reasons’ to Buy Dollar After Bearish Stance

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000US Dollar:Allianz Global Investors is considering purchasing dollars after months betting against the US currency as the war in the Middle East revives its status as a haven asset. In the short term, there are “good reasons to buy the dollar,” said Greg Hirt, who helps oversee €580 billion ($679 billion) as chief investment officer of multiasset strategies at the European asset manager. The greenback climbed to a three-week high against a basket of currencies on Monday after US President Donald Trump said the bombing campaign against Iran could last for weeks.