The dollar's descent to record lows has many market players fretting, but Akeman Capital believe there are positives, too. Here's what you need to know.
FOR IMMEDIATE RELEASE / PRURGENT
The U.S. dollar fell to an all-time low Nov. 7 2007, pushed over the edge by some off-the-cuff comments from Chinese officials.
But, according to Akeman Capital who have offices in Sevilla, Spain, in the complex world of currency markets, things are not always as they appear. Sources say that Akeman Capital’s top researchers believe that, while a dollar in the dumps might look like a stain on U.S. pride and prestige, it might also be good news for American consumers, workers, and companies.
Apparently Akeman Capital are advising their investors to ignore the loose talk surrounding the dollar’s slide. Their advisors reportedly recently explained that the dollar's plunge started when some Chinese central bank officials were quoted suggesting China would be diversifying its $1.4 trillion in foreign currency reserves, moving away from dollar holdings. But Akeman Capital apparently feels that those officials should not have been taken seriously because they have little power.
Many already assumed China and other Asian central banks were diversifying their holdings, but they're not necessarily selling dollars, just buying extra Euros.
One Chinese official was quoted saying the dollar is "losing its status as the world currency." However, sources say that Akeman Capital believe that there is not a lot of evidence for this contention.
In addition to this it has been revealed that Akeman Capital do not believe that the dollar can drop much further. Sources say that Akeman Capital currency analysts expect the dollar to rebound in the coming year.
Website Link: http://www.akemancapital.com | 
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