Dollar surge likely to be short-lived - Citigroup analyst

Friday, 01 June 2012 14:48

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Courtesy of RT.com

The former US trade minister who is currently one of the top managers at Citigroup - Carlos Gutierrez – says the recent dollar rise is stimulated by instability of the eurozone, but that situation will change soon.

“It would make sense that in the short term there would be a drive to the dollar. I don’t think things will continue, because everyone else is in bad shape. I think that would be a terrible strategy to think that we're going to be OK, because everyone else is so bad, that the dollar will be strong. At some point someone will have to take action. The amazing thing is that it has been kept under cover, it has been kept a secret almost, you know, what is happening in the US because of all these problems in the rest of the world", he told RT.

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