Bond manager superstar Bill Gross says the dollar will keep falling.
That’s because it protects U.S. trade by pushing down our export prices and pushing up our import prices.
"I think the dollar is an over-owned currency,” he told CNBC. “The Chinese, the Asians have basically owned too many dollars for too long."
The U.S. government favors the dollar’s decline, Gross says. "Let's face it, a lower dollar is basically a protectionist barrier."
That’s because it protects U.S. trade by pushing down our export prices and pushing up our import prices.
"I think the dollar is an over-owned currency,” he told CNBC. “The Chinese, the Asians have basically owned too many dollars for too long."
The U.S. government favors the dollar’s decline, Gross says. "Let's face it, a lower dollar is basically a protectionist barrier."
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