Jesse's Café Américain Thu 2009-10-15 16:38 EDT
Sumitomo Forecasts Dollar to 50 Yen, End of Dollar as Reserve Currency
"We can no longer stop the big wave of dollar weakness," said Daisuke Uno at Sumitomo. ...The market is taking the dollar where it should be, where it needs to go. If only countries with obvious pegs and ongoing manipulation to support export mercantilism were also to allow their currencies to float more freely. It is going to kill off global trade. It is the great failure of the WTO and US trade policy to have allowed pegs and overt currency manipulation policies which are de facto tariffs and subsidies on trade.
50 yen; Dollar; ending; Jesse's Café Américain; reserve currency; Sumitomo Forecasts Dollar.