3 June 2002, 10:34 FX Traders Still Weighing 'Sell USA' Sentiment
The confluence of forces that knocked the greenback from its lofty perch in
May, may yet be the driver for further dollar declines in coming
sessions. But some market players have not completely bought into the
"sell the U.S." sentiment, and think it wise not to underestimate the
U.S. economy or the greenback at this time. Marc Chandler, chief
currency strategist at HSBC, said the main argument that dollar bears
often use is that U.S. asset markets are simply not attractive enough to
lure in foreign investors. These inflows, the bears argue, are needed to
finance our huge current account deficit.
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