Pimco’s Gross Says Dollar May Drop 20% on QE, Reuters Reports
The U.S. dollar may depreciate 20 percent in the next few years following easing measures by the Federal Reserve, Bill Gross, manager of the world’s largest bond fund at Pacific Investment Management Co., said in an interview with Reuters.
Quantitative easing debases the currency on a global basis, and the pace of the dollar’s decline is an important consideration for investors, Gross was cited as saying. In the article dated Nov. 1, Gross didn’t specify which currency the dollar may fall 20 percent against.
Americans should consider getting out of dollar-based assets and seek higher returns in emerging markets, Gross told Reuters.
To contact the reporter on this story: Rocky Swift in Tokyo at rswift5@bloomberg.net.
To contact the editor responsible for this story: Rocky Swift at rswift5@bloomberg.net.
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