Citi: How to play the dollar's fall

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The surprising turn lower in the dollar this year will be one of the most dominant influences on global markets for the rest of 2016, setting up a money-making opportunity for investors on the right side of this trade, strategists at Citigroup told clients this week.

"The change in the U.S. dollar's trajectory has many implications, ranging from commodities to global stock market selection and industry group performance," wrote Tobias Levkovich, chief U.S. equities strategist at Citigroup, in relation to the trend reversal of the greenback.

The dollar index, a measure of the greenback versus a basket of currencies, is down nearly 6 percent after reaching a 12-year high in early December.

As a result, multinational companies that were negatively impacted by the dollar's strength during the past few years could see that effect turnaround, profiting from the dollar's decline, the investment bank predicts.

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