markets & strategies
Investors should sell their US dollar investments and even short the currency in the face of a predicted 5% to 10% valuation slump against all the major currencies, according to Legal & General (L&G). Meanwhile, Gartmore has stated that it too believes the dollar will fall and is instructing its fund managers to react appropriately. The cause of this weakness is mainly the widening of the current and budget deficit, according to Andrew Clare, an economist for L&G. He said: "The current account trade deficit is more than $500bn and represents more than 5% of total US GDP. It is increasin...
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