Dollar 'needs' slump, strategist says

An American recession may be just what the US dollar needs to trigger a rebound, after a long slide in the past year or more, if historical trends hold true, says senior currency strategist Michael Woolfolk.

He says in four of the past five US economic recessions going back to the early 1970s, the dollar has been higher four months after the downturn ended than it had been four months before it began.