Dollar down again as G20 backs ongoing stimulus
Dollar down again as G20 backs ongoing stimulus, IMF says dollar remains ‘on the strong side’. The euro pushed back up above $1.50 Monday after finance ministers from the Group of 20 rich and developing countries steered clear from addressing the weakness of the U.S. currency against most of its competitors at a meeting over the weekend.
As a result, investors continued Monday to borrow cheap dollars — with the Fed funds rate in a range of 0-0.25 percent, the cost of borrowing dollars is anything but prohibitive — to finance riskier investments, such as stocks and oil. According to economist Nouriel Roubini, developments in financial markets over recent months, particularly the sharp rise in stocks since March, have been characterized by this “mother of all carry trades.”
Tags: G20, nse live news
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