Key Bond Managers: Future Looks 'Terrible' for US Dollar

Wednesday, 25 May 2011 11:01 AM

Top-performing global bond fund managers are sticking with long-term bets against the U.S. dollar even as the currency has rallied more than 4 percent since the end of last month.

From Bill Gross, who runs the $241 billion Pimco Total Return Fund, to Anthony Norris, whose Wells Fargo Advantage International Bond Fund has $1.8 billion, the investors are convinced that the greenback will lose ground against a range of currencies in emerging markets and selected developed countries such as Australia and Norway.

“The long-term fundamentals still look terrible for the dollar,â€