Roubini: Dollar Will Drop 15 to 20 Percent

The dollar’s recent rally, which has taken it to a six-month high, will soon fade against Asian and commodity currencies, says star economist Nouriel Roubini.

Commodity currencies include the Brazilian real, Canadian dollar and Australian dollar.

He anticipates a 15 percent to 20 percent drop by the greenback against these currencies in the next two to three years.

And what will cause the move?

“I see anemic recovery of economic growth in the U.S., and the U.S. current account (deficit) is still very large,” Roubini, a professor at New York University, said at a Moscow conference, according to Bloomberg. (more)