Our Sponsors

  • Citigroup Inc. (NYSE:C) : Dollar May Weaken on Debt Breach

    Citibank logo
    Tuesday May 31, 2011 at 07:17 pm EST
     
    Citigroup Inc. (NYSE:C) : Dollar May Weaken on Debt Breach
    Sign up for Daily alerts if you haven't done it yet. 
    As per reports from Blomberg, Citigroup Inc. (NYSE:C) believes that U.S. debt ceiling breach is capable of affecting the dollar on a large scale because international holders of the debt may view the risk of permanent losses greater than domestic investors.

    “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.”


    You Might Want to Read These:

    2)Top Stock for the year 2011
    3)Financials with Huge Upside Potential
    4)BofA Hits New 52 week Low

0 comments:

Leave a Reply

Latest Posts