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U.S. dollar softness to continue; Euro, yen best placed: PIMCO
The U.S. dollar is likely to continue weakening against developed market currencies after the U.S. Federal Reserve's shift to a new monetary policy strategy, a portfolio manager at bond giant PIMCO said on Tuesday. Erin Browne, managing director and portfolio manager at PIMCO, told the Reuters Global Markets Forum she had become more bearish on the U.S. dollar .DXY over the last three months. Within developed markets, the euro EUR= and Japanese yen JPY= were the "best structural longs," said Browne, who co-manages the PIMCO Dynamic Multi-Asset Fund. "Tactically, I also think Norway's krone NOK=, sterling GBP= ... (full story)