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Dollar Will Be 'Slapped' Until 2012 Elections: Strategist

Tuesday, 2 Aug 2011 | 4:00 AM ET

"Over the long term we've seen that U.S. politics really does not bode well for the future," David Bloom, global head of foreign exchange strategy at HSBC told CNBC. "If the economy were to slow further, there's no chance of a fiscal package... and this is not good news for the dollar at all and it's going to get slapped every day for the next 15 months," he added.