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

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.