‘Dollar Smile' creator says more weakness ahead for U.S. currency [BNN Bloomberg (Canada)]
INTESA SANPAOLO S/ADR (ISNPY)
NASDAQ:AMEX Investor Relations:
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Source: BNN Bloomberg
Mounting worries that the U.S. economy may be losing steam and increasing optimism regarding growth abroad have dragged the dollar to a three-month low this week – belatedly confirming the views of Jen, the chief executive of London-based asset manager Eurizon SLJ Capital. “An overvalued dollar that would actually weaken, that's been our call,” said Jen, adding that he feels “somewhat vindicated” after predicting a weaker dollar over the past two years. The Bloomberg Dollar Spot Index fell around 1% on Wednesday, extending a drop that has wiped out most of the gains it notched since the US presidential election last year. Jen says the recent moves fit well with the “dollar smile“ framework he put forward more than two decades ago as a s
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