Dollar Overvalued

The International Monetary Fund on Friday said that the US dollar was overvalued by 10% to 20%, based on US near-term economic fundamentals, while it viewed valuations of the euro, Japan’s yen and China’s yuan as broadly in line with fundamentals, VoA reported. The IMF’s External Sector Report, an annual assessment of currencies and external surpluses and deficits of major economies, showed that external current account deficits were becoming more concentrated in certain advanced economies such as the United States and Britain, while surpluses remained persistent in China and Germany.