Drooping dollar to revive, analyst says

“In a soccer match of 90 minutes, we think we are in the 80th minute of decline of the dollar, said Morgan Stanley's David Darst.
JUL 01, 2008
The steady decline of the U.S. dollar will soon come to an end, said David Darst, chief investment strategist of Morgan Stanley’s global wealth management group. “In a soccer match of 90 minutes, we think we are in the 80th minute of decline of the dollar against most of the major currencies,” Mr. Darst told CNBC today. However, he cautioned that another reversal in the financial sector could force the Federal Reserve to lower interest rates again, which could mean a longer wait until the dollar stabilizes. Mr. Darst also predicted that the current bear market will take several months to turn around. Morgan Stanley is based in New York.

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