TITLE

Is the Dollar Back?

AUTHOR(S)
Adams, Jonathan
PUB. DATE
March 2004
SOURCE
Newsweek (Atlantic Edition);3/15/2004 (Atlantic Edition), Vol. 143 Issue 11, p4
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
This article reports that the U.S. dollar has gained about 4 percent against the euro in the last month, and 6 percent against the yen. However, Goldman Sachs's William Dudley thinks the dollar has much farther to drop. Deutsche Bank's Peter Hooper predicts that before it bottoms out, in two or three years or more, the U.S. currency could fall another 20 percent to $1.50 to the euro, and 25 percent to a mere 85 yen to the dollar. Currency cycles tend to last three to five years, analysts say, and the dollar is still correcting its whopping 45 percent rise on a trade-weighted basis between 1995 and 2002. Faster growth overseas or a strong recovery in the U.S. labor market could cushion--and shorten--the dollar's fall. And if China lets its yuan appreciate against the dollar, or links it to a basket of currencies--something analysts say is increasingly likely--that could ease upward pressure on the euro and yen, says Nomura Securities' David Resler.
ACCESSION #
12541412

 

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