US$ drop is cue to start buying, says ING

New York

IT'S TIME for investors who bailed on the US dollar in the past few weeks to get back in, says the most accurate currencies forecaster.

The greenback has tumbled 4.3 per cent versus the euro since touching a 12-year high last month amid speculation that the Federal Reserve will delay raising interest rates, in part because the dollar's strength is hurting US economic growth. That concern is overblown, according to ING Groep NV, which topped Bloomberg's rankings of foreign exchange analysts for the second quarter in a row.