Deutsche Bank AG co-Chief Executive Officer, Anshu Jain said he's "constructive" on the dollar and praised the Federal Reserve for fostering a "slow, smooth" adjustment in the bond market as it plans to trim purchases.
"We are very constructive on the US dollar for very fundamental reasons," Jain said on Wednesday in an interview with Bloomberg Television in Singapore. "A combination of a US which is re-industrialising and a household which is starting to spend again could presage a long strong period for the US, which of course would be good for the dollar."
Fed Chairman Ben S Bernanke said on June 19 the central bank might begin to slow its $85 billion in monthly bond purchases this year if economic growth meets policy makers' goals.
The Fed should be happy with how the bond market has reacted, Jain said.
