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Warren Buffett Reduces Berkshire's Bet Against Dollar

November 07, 2005

Warren Buffett's Berkshire Hathaway Inc. reduced a bet against the U.S. dollar after losing more than $900 million from foreign-currency investments this year.

Buffett, who has said the U.S. trade deficit would weaken the dollar, cut his foreign-currency forward contracts to $16.5 billion in September from $21.5 billion in June, Berkshire said in a Nov. 4 statement. The dollar in July reached a 13-month high against a basket of six major currencies.

http://www.bloomberg.com/apps/news?pid=10000082&sid=axgvBCYd55Mg

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