Euro to Be on Par With U.S. Dollar `Sooner Or Later,' CLSA's Wood Says
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.
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