New York, New York (PressExposure) January 18, 2010 -- "Mann International", the Asian-based asset manager, has reiterated its view that the lack of fundamentals underpinning the US dollar should be more than enough to prompt further caution amongst investors seeking a safe-haven.
The world's reserve currency has staged something of a sharp rally in the last few weeks as investors took profits and money off the table in the run up to the Christmas holiday season but figures released last week showed that the mild euphoria that followed the stunning payrolls number for November 2009 was to be a temporary phenomenon after the report for December showed that a significantly larger-than-expected number of Americans lost their jobs in that month.
"Mann International" said that this, combined with weak pending US home sales figures, caused the rally to stall as investors began to doubt the strength of the nation's fledgling economic recovery.
"Mann International" said that the absence of consumers and continued distress in the US housing market showed the lack of fundamental strength in the US economy and that this should make investors wary.
Gold, crude oil and other commodities rose last week on dollar weakness but gains were modest after China said that it was to begin withdrawing some of the stimulus into its economy in an effort to curb any inflationary pressures that may be building in the world's third largest economy.
"Mann International" reminded clients to continue to acquire commodities, especially gold and silver, on price dips warning that it was just a matter of time before the equity and bond markets corrected.