Bet against us12/22/2023 policymakers would respond to an economic downturn with a fresh wave of interest rate cuts - typically a move that drags down a currency. He said he had missed the 2022 dollar rally “because I could not bring myself to buy Joe Biden and Jay Powell … It was probably the biggest miss of my career.” But Druckenmiller said he suspects U.S. We have had a long higher.”ĭruckenmiller racked up one of the hedge fund industry’s strongest winning streaks with legendary trader Soros and then at Duquesne Capital Management, before ejecting investors from the $12 billion hedge fund in 2010 and turning it into a family office to manage his own fortune. “Currency trends tend to run for two or three years. dollar,” he said at an event hosted by the Norwegian sovereign wealth fund in Oslo last week. ![]() “One area I’m comfortable is I’m short the U.S. ![]() dollar, which rallied strongly last year, has already declined by 10 per cent against a basket of other leading currencies since a November peak, but Druckenmiller believes it has much further to fall.
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