Sunday, October 24, 2010

BY WILLIAM SPOSATO AND TOM LAURICELLA

The initial verdict is in after this weekend's G-20 meeting: Expect continued declines in the dollar.
Without any concrete steps to avoid destabilizing "currency wars," investors and strategists say there is no reason to stop selling dollars.
Some analysts say the dollar will likely test its record low of 79.75 yen within the week, and they predict that risk-sensitive currencies, such as the euro and the Australian dollar, will continue their recent strength.
"I expect the yen will hit its record high sometime this week," says Bank of Tokyo-Mitsubishi UFJ senior dealer Kenichi Nishii, who also predicted a rise
                                                       NIRAJ KUMAR
                                                          PGDM 1ST

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