Translate

GPA Store: Featured Products

Friday, November 19, 2010

Dollar to Become World’s ‘Weakest Currency,’ JPMorgan Predicts

Shigeki Nozawa
Bloomberg

The dollar may fall below 75 yen next year as it becomes the world’s “weakest currency” due to the Federal Reserve’s monetary-easing program, according to JPMorgan & Chase Co.

The U.S. central bank, along with those in Japan and Europe, will keep interest rates at record lows in 2011 as they seek to boost economic growth, said Tohru Sasaki, head of Japanese rates and foreign-exchange research at the second-largest U.S. bank by assets. U.S. policy makers may take additional easing steps following the $600 billion bond-purchase program announced this month depending on inflation and the labor market, he said.

“The U.S. has the world’s largest current-account deficit but keeps interest rates at virtually zero,” Sasaki said at a forum in Tokyo yesterday. “The dollar can’t avoid the status as the weakest currency.”

Read Full Article

RELATED ARTICLE:
Eurozone Debt Crisis 2.0: Dollar Sucks Less than Euro, Again

Fresh food that lasts from eFoods Direct (Ad)

Live Superfoods It is time to Wake Up! You too, can join the "Global Political Awakening"!

Print this page

PureWaterFreedom
widgets
0 Comments
Disqus
Fb Comments
Comments :

Jasper Roberts Consulting - Widget