Market News
PIMCO turns more cautious on dollar, says could see US rating downgrade this year - REUTERS
Summary
- Bond giant PIMCO turns a little more cautious on dollar
- Says U.S. could see a ratings downgrade this year
- Says high U.S. debt levels could cause more problems
LONDON, April 2 (Reuters) - PIMCO has turned a "little bit more cautious" on the dollar in recent months and was a touch underweight the U.S. currency across portfolios, the bond giant's group chief investment officer Daniel Ivascyn said on Wednesday.
The dollar index has shed nearly 4% so far this year on growing concerns that U.S. tariff uncertainty raises recession risks for the world's biggest economy.
