Tuesday, July 3, 2012

Marc Faber : The Euro Not a very desirable Currency

Marc Faber : In my view, the euro is not a very desirable currency, but the US dollar is not much better. I think if you look at the action of central banks around the world, it is very difficult to find any paper currency with which you can be particularly happy. If the Chinese economy slows down more as I expect it will then you will also have easing in China and capital flight and maybe the Chinese RMB will weaken.
Among the context of who is the least ugly currency I would say probably the US dollar for the time being, but that doesn’t change the fact that the US dollar was overbought recently and sentiment surrounding both European stocks and the euro was extremely negative. So I think a rebound in the euro may continue very well and then will have renewed weakness in my view. - in CNBC TV 18 interview
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