Posted By: Dr. Frugal in Currency on 10/19/2007 at 05:47:05
The Financial Times reported today that IMF has declared the dollar as still-valued. I know I've said like this forty times but I don't invest at all in currency. I don't get it and I'm not ashamed to admit it. I have a very basic knowledge of how currencies are valued but I don't think investing in something you don't understand is a very good idea.
The IMF, however, has little sympathy for struggling eurozone exporters hit by the currency's rise. It says that even after its recent rise, the euro "continues to trade in a range broadly consistent with medium-term fundamentals".
Apart from the dollar, the IMF's economists also think sterling is overvalued, while the Japanese yen and the Chinese renmimbi remain too cheap compared with other currencies.
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