The euro will be on par with the U.S. dollar “sooner or later” on Europe’s bailout proposal, Christopher Wood, chief equity strategist at CLSA Asia Pacific Markets, said at a forum in Shanghai.
“Europe’s bailout plan means the euro will be a fundamentally weak currency,” Wood said. “Euro will sooner or later go to parity with the U.S. dollar.”
The European debt crisis may worsen, Wood said. It will remain a regional problem and not a global turmoil, he also said.