Oil prices and US equities are back close to where they were at the start of the year when there was so much promise from the President’s expensive stimulus measures. So why, if there are concerns over a weakening US and global economy, is the US dollar on the rise today? It’s a question I put to NAB’s Gavin Friend in today’s Morning Call podcast. Could we see the US dollar weaken and the Aussie gain some strength? After all, we’re one part of the world that seems a step away from the problems facing many other economies. Yet, even with Philip Lowe talking things up last night, the Aussie dollar lost ground overnight.