Dollar May Weaken on Debt Breach: Citigroup
By Cecile Vannucci
Bloomberg.com
May 31, 2011 3:23 PM ET
A breach of the U.S. debt ceiling may affect the dollar more than Treasuries because international holders of the debt may view the risk of permanent losses greater than domestic investors, according to Citigroup Inc.
“The foreign exchange reaction to a debt ceiling breach would be sharper and probably more permanent,” Steven Englander, the head of Group of 10 foreign-exchange strategy in New York at Citigroup, wrote in a note today. “It would legitimately tax foreign investor patience and lead to further dollar dumping whenever the opportunity arises.”
Full article: http://www.bloomberg.com/news/2011-05-31/debt-ceiling-breach-may-hurt-dollar-more-than-treasuries-citigroup-says.html
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months