Source AP ©

Dollar to stay week against euro for 2 more years


A top German economist on Wednesday said he believes the U.S. dollar's poor performance against the euro could continue for at least two years.

"My gut tells me we are going to see something unprecedented in history," Norbert Walter, chief economist for Deutsche Bank, told reporters. "I suspect the dollar will stay weak for at least two years."

For Germany, the world's largest exporter, Walter said selling products on a strong euro poses challenges to which manufacturers are already adapting.

"BMW built its newest factory not in Germany, but in Spartansburg (South Carolina)," Walter said. "It's possible that other car makers will go to eastern Europe, or to China."