The world’s biggest money manager is shorting the dollar on expectations that unprecedented fiscal and monetary stimulus will prolong its losses — regardless of who wins the U.S. election. BlackRock Inc. holds a “modest” short in the greenback against the likes of the Chinese yuan, Indian rupee and Indonesia rupiah, said Neeraj Seth, head of Asian credit in Singapore. The three Asian nations are among those best positioned to benefit from a weakening dollar as investors seek out higher-yielding assets and growth. “My base case is that we still have at least one- to three years of more moderate dollar … (full story)
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