Summers Says Dollar Can Go Further, With ‘Huge Advantage’ for US
- Former Treasury chief notes euro still above 2000 lows
- Summers skeptical any Japanese intervention on yen could help
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Former Treasury Secretary Lawrence Summers said that the dollar has further scope for appreciation given an array of fundamentals behind it, and expressed skepticism about the effectiveness of any Japanese intervention to turn the tide for the yen.
“It’s remarkable that people were saying the dollar’s day was past not very long ago given its current strength,” Summers told Bloomberg Television’s “Wall Street Week” with David Westin. “My guess is that there’s room for this to continue.”