London CNN —The US dollar is barreling toward a 3.7% loss this month against a basket of six major currencies in what would be it worst monthly performance in a year.
For countries that depend on commodity imports, a weaker dollar means they have to pay less for essentials like wheat and crude oil.
A number of up-and-coming economies have debts denominated in dollars, and a weaker dollar can make servicing those debts less expensive.
A fall in the greenback’s value also signals better investment opportunities outside the United States, McCormick told CNN.
“A weaker dollar is a rising tide that lifts all boats,” he said.
Persons:
decelerate, ” Ulrich Leuchtmann, Cameron Willard, —, ” Willard, ”, Mark McCormick, Leuchtmann, McCormick, stokes, Willard
Organizations:
London CNN, Reserve, CNN, TD Securities
Locations:
United States, Japan, Korea, India, Handelsbanken