Monday
Mar222010
New Leg Up For the Dollar?
Monday, March 22, 2010 at 10:10AM After trading sideways for much of the last two months, the US Dollar index successfully tested its 50-day moving average last week and looks to be in the early stages of a new leg higher. While Europe has its fair share of problems, it's still hard to believe that the US dollar can rally even as the Federal government faces higher borrowing costs than Warren Buffett.
Reader Comments (2)
The dollar may go up a little. I think the Chinese and Japanese will constantly dispose as many of their dollars and hold it around the 80-83 level.
While a higher dollar would benefit them, they also realize that the US debt cannot be paid back.......except through inflation or devaluation.
They will dump dollars while they can.
Wonderful post... Very informational and educational as usual!
Acai Optimum