Sorry!! The article you are trying to read is not available now.

Dollar May Decline to 50 Yen, Lose Reserve-Currency Status, Sumitomo Says

Print comment Post Comments
"The dollar may drop to 50 yen next year and eventually lose its role as the global reserve currency, Sumitomo Mitsui Banking Corp.’s chief strategist said, citing trading patterns and a likely double dip in the U.S. economy," according to Bloomberg.  “The U.S. economy will deteriorate into 2011 as the effects of excess consumption and the financial bubble linger,” said Daisuke Uno at Sumitomo Mitsui, a unit of Japan’s third- biggest bank. “The dollar’s fall won’t stop until there’s a change to the global currency system.”
SOURCE:   Bloomberg