United States dollars and pounds overrated and the euro underestimated

On 15 July, a Global Fund manager survey conducted by the United States Bank in July revealed that investors continued to consider the United States dollar and pound sterling to be overvalued, but now considered the euro to be undervalued. The percentage of investors with a net share of 34 per cent considered the United States dollar to be overvalued was the same as in the previous month ' s survey; 12 per cent of investors with a net share considered the pound sterling to be overvalued, down from 15 per cent in the previous month; and 10 per cent of investors with a net share considered the euro to be undervalued, compared with a neutral rate last month. Kim Xian