Concern that some European countries will struggle to pay their debt has driven the euro down 12 percent versus the dollar since 2008 and may push it even lower, according to Nomura Holdings Inc.
The People’s Bank of China may double the size of the yuan’s trading band versus the dollar within weeks, Jens Nordvig of Nomura Holdings Inc. said.
Europe’s debt crisis is entering its endgame, according to Nomura Holdings Inc.’s Jens Nordvig, who expects a tighter fiscal union and steps by the European Central Bank to reduce borrowing costs.
Rather than a euro failure, an orderly Greek exit from the currency has Nobel laureate Joseph Stiglitz and Nomura Holdings Inc. chief strategist Jens Nordvig predicting a stronger and more stable monetary union.
"Reaching parity within six months I do not think is out of the question at all."
- Jens Nordvig on Jan 13, 2015