World's Biggest Currency Trader Says Weak Jobs Means Weak Dollar
- Citigroup's Englander calls employment trend and implications
- Parker Global fund index falls to lowest level since June
Job seekers move from booth to booth gathering information for various available jobs during a Job Fair Giant career fair in Sterling Heights, Michigan, U.S., on Sept. 30.
Photographer: Laura McDermott/BloombergThis article is for subscribers only.
The dollar is looking down.
Citigroup Inc., the top foreign-exchange trader by volume and one of the banks to correctly forecast a weaker-than-projected jobs report, said Friday’s data will cause the U.S. currency to depreciate. With the Federal Reserve less likely to raise interest rates amid global economic growth concern, the bank sees refuge currencies including the yen and the euro benefiting.