A top strategist says 'stars are aligned against' the dollar this year and Europe will eclipse the US

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• The world's reserve currency can expect a tough quarter ahead as "stars are aligned against" the greenback, according to a top currency strategist. 
• "This is one of the rare occasions when Europe will actually outperform the US," private bank Brown Brothers Harriman's head of global currency strategy told CNBC in an interview on Thursday.
• The dollar index has lost over 7% in the last three months, while gold has touched a record high and shot past the $2,000 mark this month.
• The strategist turned bearish against the dollar in April, when the US central bank began to pump record amounts of stimulus to shore up the economy against the economic downturn triggered by the COVID-19 pandemic.
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The US dollar is in for an unpleasant quarter, according to a currency strategist who believes the "stars are aligned against" the world's reserve currency.

The ability of the US government to fight the pandemic as successfully as other countries is acting as a drag on investor confidence in the dollar, Win Thin, global head of markets strategy at Brown Brothers Harriman, told CNBC on Thursday. 

See the rest of the story at Business Insider

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• US companies added 167,000 in July, badly missing economist forecasts, ADP says
• Black-owned businesses nearly twice as likely to close amid the coronavirus pandemic, New York Fed study finds

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