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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