HSBC bids farewell to dollar supremacy
"The dollar looks awfully like sterling after the First World War,' said David Bloom, the bank's currency chief.
'The whole picture of risk-reward for emerging market currencies has changed.
It is not so much that they have risen to our standards, it is that we have fallen to theirs.
It used to be that sovereign risk was mainly an emerging market issue but the events of the last year have shown that this is no longer the case.
Look at the UK – debt is racing up to 100pc of GDP,' he said"
No comments:
Post a Comment