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Sovereign funds cut exposure to weak dollar

07.17.2008

WiseOne

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Join Date: Sep 2007

Location: Big Sandy, TN

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Sovereign funds cut exposure to weak dollar

Quote:

Some of the world’s largest sovereign wealth funds are seeking to scale back their exposure to the US dollar in a sign of global concern about the currency.

One big sovereign fund in the Gulf has cut its dollar-denominated holdings from more than 80 per cent a year ago to less than 60 per cent, while China’s State Administration of Foreign Exchange (SAFE) has been looking to strike deals with private equity firms in Europe as a part of a strategy to reduce its dollar holdings.

Read More Here >> Financial Times

WiseOne's Comments, well I can't say as I blame them...we should NEVER have let all the foreigners invest SO heavily in our system...now America will certainly pay the piper, and pay BIG.

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dropping dollar, economy, foreign investments, weak dollar

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