Dollar to Remain Reserve Currency With Downgrade, FX Concepts’ Taylor Says
John Taylor, founder of the world’s largest currency-hedge fund, said the dollar will remain the world’s reserve currency even if the U.S. loses its AAA credit rating.
There is “no alternative for the dollar in the next five to 10 years,” Taylor said in an interview on Bloomberg Television’s “In the Loop” with Betty Liu. The euro is diminished by the region’s economic woes and few investors see the yuan of communist China as a viable alternative, he said.
FX Concepts is “beginning to like the dollar,” Taylor said.
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