The U.S. dollar is in trouble. And people with money know it.
According to Bloomberg, the dollar has lost 34 percent of its value since 2001 and investors say it will weaken further as home sales fall and the Federal Reserve cuts interest rates.
The dollar plummeted to its lowest ever last week against the euro, Canadian dollar and Chinese yuan. It is also the cheapest in 26 years against the British pound. Which is why Brazilian supermodel Gisele Bundchen wants to be paid in euros, or any currency other than the dollar.
When Bundchen, 27, signed a contract in August to represent Pantene hair products for Cincinnati-based Procter & Gamble Co., she demanded payment in euros. “Contracts starting now are more attractive in euros because we don’t know what will happen to the dollar,” Patricia Bundchen, the model’s twin sister and manager said.
