A weaker dollar could be doing the work of global central banks.
The greenback begins 2018 after its worst year since 2003, and analysts at Bank of New York Mellon Corp. and Credit Agricole SA say further declines could mean central banks don't have to tighten monetary policy as much as they may now be planning.
The argument goes that by forcing up rival exchange rates, a decline in the U.S. currency could slow economic growth and inflation elsewhere, creating room for interest rates to stay lower than they otherwise would be. ...
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