Technically overvalued?
MARKET VOICE
Technical indicators show the US dollar’s overvaluation may be sufficient for a longer-term reversal, says Michael Rosenberg (right), global head of FX research at Deutsche Bank in New York
Most long-term exchange rate cycles begin from a point of significant overvaluation or undervaluation (on a purchasing power parity -- PPP -- basis). From those overvalued or undervalued levels, a currency will first fall or rise to correct the initial misalignment and, if fundamentals warrant, the downward or
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