Sharks, I'm not a Forex Trader, but would like your opinion re our dollar if I may.....
From Bloomberg...
"
The dollar is set to fall 5 percent in the next few months, the Federal Reserve isn’t raising interest rates anytime soon and U.S. economic data is only going to get worse.
That’s what Morgan Stanley chief global currency strategist Hans Redeker told clients in a note published Thursday, citing in-house indicators showing U.S. domestic demand is set to fade in the coming months. It didn’t take long for markets to prove him prescient. The greenback fell 1.3 percent Friday, capping its worst week since April, after the Commerce Department said U.S. second-quarter gross domestic product advanced at about half the rate economists had forecast."
http://www.bloomberg.com/news/artic...rns-currency-traders-worst-to-come-for-dollar
What would that 5% fall do to our dollar, do you think? My question is related to proposed travel later this year.
I havent a clue because I've seen some surprise movements. leading into GFC1 our dollar was at 97c, and tipped to parity and beyond, and then when worse news arose in the US, fell to about 67c, from memory.....this was explained to me as all fleeing to the "safety" of the $US from all currencies..... and left me overseas paying about $12-$13 for a middy of beer. Ouch! Never even got merry once.
Hence my question, please. What do you think?
cheers
GZ
Monday July 25th FX weekend gaps, page-3
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