New York University professor Nouriel Roubini
Investors worldwide are borrowing dollars to buy assets including equities and commodities, fueling â€œhugeâ€ bubbles that may spark another financial crisis, said New York University professor Nouriel Roubini. â€œWe have the mother of all carry trades,â€ Roubini said via satellite to a conference in Cape Town, South Africa. â€œEverybodyâ€™s playing the same game and this game is becoming dangerous.â€
US Treasury Secretary Timothy Geithner
said Tuesday the dollar would keep its status as the world’s main reserve currency a "long time." Geithner, speaking to an investors conference in New York a day after the dollar hit a 14-month low against the euro, said: "The dollar will remain the principal reserve currency for a long time." The dollar has nosedived in recent months as investors turn away from the greenback, considered a safe haven amid economic uncertainty, amid a burgeoning recovery from a severe global slump.
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