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Home >> Stock Forums >> Dollar finally up

Dollar finally up

AlfredSokol said: "At least for a few minutes as people pull their commodity profits and put money back into currency. Will the trend continue?"

StockMan69 said: "I am going long dollar against the EUR"

bigmike said: "WHy worry about the dollar, when Gold is doing better."

Maverick Investor said: "You're brave, StockMan! The Euro is the strongest major currency on the planet right now, at healthy highs. The dollar, on the other hand, hasn't finished tanking yet, IMHO. In fact, a weak dollar benefits the US gov as it reduces the trade deficit. I'm still bearish."

Heather said: "A lower dollar could help stimulate foreign buyers, too. Now that currencies are more "fluid" than ever before, I think the global economy can help lift the ships."

Maverick Investor said: "The buck’s under massive pressure again today, heading towards 1.6 to the euro. It looks like this week will see its biggest weekly fall in a month against the euro, as traders keep on betting that the Fed will again cut rates in the hope of averting a recession. The greenback’s now down 8% so far against the European currency this year. Expect this decline to continue in the months ahead as companies and countries around the globe keep on losing faith. The euro already outweighs the dollar in terms of international corporate bonds issued and more and more emerging markets companies are looking away from New York to Europe for new listings. Add to that the fact that countries such as China and those of the Middle East are moving away from the historic dollar peg to baskets of currencies that give the euro a prominent role, and it doesn’t look to rosy for the American currency... As a new report from the McKinsey Global Institute points out, it might not be long before the once mighty dollar loses its “global reserve currency” crown to the euro. In the meantime, keep an eye on the good old Swiss franc as another great way to play the death of the dollar, as international capital flows into a country so far untainted by troubles in the mortgage and derivatives markets. The Swissie has moved a euro- thrashing 12% higher against the dollar since the start of the year. ----------------------------------------------- But here’s the currency that’s REALLY flying... ----------------------------------------------- Which currency has done even better than the Swiss franc against the dollar? Well, it’s not the Japanese yen – that’s risen a mere 10.6% against the buck. It’s not the resource-rich Australia at a measly 5% - and the Canadian dollar is actually lower than its US cousin. How about good old gold itself... the “ultimate currency” as it’s known amongst the real gold bugs? Well, it’s trounced all the majors since the 1st of Jan – up 13% at the time of writing... and that after a recent chunky pull back from the 17 March highs at $1031 an ounce level. “Gold is the ONLY hedge you should consider against inflation and the tumbling dollar,” says commodities guru Garry White. “Thursday’s oil pipeline attack in Iraq demonstrated that. One piece of geopolitical news can send the price of oil soaring – or plummeting.” “Gold offers more than just a hedge against inflation. Here’s another great reason to expect more moves to he upside. “Standard and Poor’s – the same Standard and Poor’s who gave AAA ratings to mortgage-backed securities – reckons South Africa’s power crisis “will prove to be more of a stress test than a major ratings driver.” In other words they don’t think it’s that serious. “Now, given S&P’s track record, you could infer just from that statement that things must be very bad indeed. There are real, fundamental reasons to think S&P are... well, wrong again. “They come from Eksom, the South African power generator, which has said that people should expect rolling blackouts every second day for the next three months. “South Africa, of course, is a major gold producer. And they need electricity to mine the stuff." Out of the dollar, and into gold - have a great weekend!"

Maverick Investor said: "Sorry about that!"

AlfredSokol said: "The "Eurozone" doesn't exist in a vacuum. As the currency continues on its upward path it will wreak havoc in its path. Germany for example has already begun to move manufacturing jobs outside of the "Eurozone" due to increased wages."

pranith said: "Well thats good news to hear that $ is going to bounce back and we can see he change as of now $ is inreasing slightlu say by day as compared to previously."