As the U.S. dollar witnessed its largest two-day decline in over two years, an economist argues the importance of devaluation for global growth while another expert explains the weakness to as a symptom and not a cause.
What Happened: The macro strategist at Crescat Capital, Otavio Costa highlighted the dollar’s largest two-day decline in over two years in his latest X post.
While he said that the dollar was the “most overvalued” concerning other fiat currencies, he reiterated that it “needs to be devalued to restore global growth.”
However, according to Aditya Sesh, the founder and managing director at Basiz Fund Services, the weakness in the dollar was a “symptom and not a cause.”
Full story available on Benzinga.com