Reuters Italia – Investors should sell their U.S. assets, especially the dollar against the yen, as America’s economic and political power is likely to decline this year, a hedge fund manager toldReuters.<\/p>\n
David Murrin, chief investment officer at Emergent Asset Management, thinks the dollar’s exchange rate against the yen could fall to 104 within the next 6 months and that after a short pause it will start moving towards 90.<\/p>\n
The dollar traded around 114.62 yen on Tuesday.<\/p>\n
“The biggest expression of America’s declining power and the ascension of Asia will be seen in dollar\/yen,” Murrin said.<\/p>\n
“Imbalances in the U.S. economy, which include the current account and the budget deficit, will become impossible to ignore … Japan’s economy is coming out of a 13-year slump, it has only one way to go … Everyone is looking at Japanese stocks.”<\/p>\n