US Economy To Drag Down Global Growth: Soros - Reuters

U.S. investor George Soros said the U.S. economy will drag down global growth and China's pegging of its currency to the dollar is ensuring it remains undervalued and "unsustainable," the Reuters news agency reported.

"The world economy is going to have some growth, but we are bound to be flat," Reuters reported the head of Soros Fund Management as saying Thursday.

Soros said, according to Reuters, that the continued pegging of the renminbi to the dollar will ensure it's undervalued.

"And that will be unsustainable," Soros said, according to the report.