INVESTORS nervously watching the fading strength of the US dollar are being warned against panic selling the currency.
After declines which have slashed more than 10 per cent off the value of the dollar against the yen in the past six weeks, financial advisers and analysts predict the worst may be over.
'If you're still in the US dollar you should stick with it because it could be coming to its lowest point,' said one private banker.
But although the free-falling US currency may be scraping the bottom, the short-term outlook remains uncertain.
Bob Bunker, general manager at BNP International Financial Services, said it was unlikely to appreciate in the near future.
'The dollar is earth-shatteringly cheap and horrendously oversold,' he said.