Economics > Warren Buffet Loses Billion Dollar Bet Against U.S. Dollar
From Jim Miller.
Warren Buffett's Berkshire Hathaway reduced a bet against the US dollar after losing more than $US900 million ($1.23 billion) from foreign currency investments this year.
Mr Buffett, who has said the US trade deficit would weaken the US dollar, cut his foreign-currency forward contracts to $US16.5 billion in September from $US21.5 billion in June, Berkshire said in a statement. The US dollar in July reached a 13-month high against a basket of six major currencies.
The Euro is currently at a two-year low against the dollar.
Posted by lesjones
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