GLOBAL - The US dollar will continue to decline over the medium-term after markets weather a short period of volatility, a leading fund manager claims.
Standard Life Investments stated that while the dollar had been on a clear downtrend for 18 months, it was only now that investors’ perceptions of it and the euro were shifting markedly.
Global investment strategist Ken Forman said: “The policies of the respective central banks have diverged sharply.
“This has created an attractive yield differential for investors in the euro’s favour.”
“Looking beyond the possibility of short-term volatility, the underlying conditions suggest the US dollar will continue to decline until it is clear to investors that the policy makers have been successful in reflating the global economy.”
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