Currency Strategist Bets Against Dollar, Puts His Money On Euros and Kronas

Thursday, June 23, 2011 07:36
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Currency Strategist Bets Against Dollar, Puts His Money On Euros and Kronas

Tags: currency | dollar

The U.S. dollar is battling downward pressure on a number of fronts and is poised to weaken further, says the manager of the Merk Hard Currency Fund.

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The Federal Reserve wants the dollar to remain weak in order to spur economic growth through low interest rates, and rising commodity prices also will continue to push the dollar lower, Axel Merk tells the Wall Street Journal.


Merk has positioned the $563.4 million fund to favor the euro, the Swedish krona, the Australian dollar and the Canadian dollar. He also has added some exposure to the yen after selling off the yen in March.

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