BlackRock Sells Dollar For Asian Currencies Into U.S. Vote
- Fund is long yuan, rupee and rupiah against the greenback
- BlackRock’s Seth sees 1-3 years of moderate dollar weakness
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The world’s biggest money manager is shorting the dollar on expectations that unprecedented fiscal and monetary stimulus will prolong its losses -- regardless of who wins the U.S. election.
BlackRock Inc. holds a “modest” short in the greenback against the likes of the Chinese yuan, Indian rupee and Indonesia rupiah, said Neeraj Seth, head of Asian credit in Singapore. The three Asian nations are among those best positioned to benefit from a weakening dollar as investors seek out higher-yielding assets and growth.