Wells Fargo puts faith in commodity currency growth
The US bank expected the greenback to take a hit from limited economic growth leading to further monetary easing. However, it thought any decline would only be moderate, as risks of upsetting policy action in Europe, the UK and Japan increased, said Vassili Serebriakov, senior currency strategist at Wells Fargo in New York.
Serebriakov expects that in this environment the benefactors were the commodity-based and emerging market currencies, notably the Australian, Canadian and New Zealand dollars
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