# The recent dollar movement



## zxcvbnm (11 Sep 2008)

Anyone see that the dollar hit €1.39 this morning?

That is a serious movement from only a couple of montsh ago when it hit the €1.60 mark.

Looks like Jim Rogers was right after all.
I wonder how much more movement is there?

Is the dollar still in big trouble though?
Is this just a temporary bounce ?

WHat was the reason for this sudden change does anyone know?


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## Protocol (11 Sep 2008)

It's euro weakness, as much as dollar strength.


Signs of a weakening eurozone economy, with talk of no rises in interest rates, and maybe rate cuts by the ECB, have led to less support for the euro.


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## limerickboy1 (11 Sep 2008)

jim rogers said the US dollar was toast, not goign to rally so he was wrong

its rising due to the euro being grossly over valued plus in times of economic meltdown like we have now people buy the dollar as the US economoy is always first into a recession and most importantly first out


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## zxcvbnm (11 Sep 2008)

limerickboy1 said:


> jim rogers said the US dollar was toast, not goign to rally so he was wrong


 
Only a few months ago Jim rogers said the dollar would recover temporarily.
i.e. he predicted this bounce.

In the long term he is saying it is in trouble.


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## Satanta (11 Sep 2008)

Protocol said:


> It's euro weakness, as much as dollar strength.


Just had a quick look on www.x-rates.com (you can do a trend comparison against any two currencies) and the dollar appears to have strengthened against a few/lot of the major currencies over the last three months (not an analytical approach, I just looked at a few currencies that cought my eye... mainly the Yen, Australian/Canadian/Singapore dollar and Euro). It appears to not simply be against the euro.


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## rmelly (11 Sep 2008)

zxcvbnm said:


> Only a few months ago Jim rogers said the dollar would recover temporarily.
> i.e. he predicted this bounce.
> 
> In the long term he is saying it is in trouble.


 
Hang on a minute, you're interpreting this as a 'bounce' before it has gone back down...


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## limerickboy1 (11 Sep 2008)

cos the whole world is slowing down and the US is probably the best of the lot

zxcbnm - can u provide a link to him saying that it was goign to bounce


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## zxcvbnm (11 Sep 2008)

limerickboy1 said:


> cos the whole world is slowing down and the US is probably the best of the lot
> 
> zxcbnm - can u provide a link to him saying that it was goign to bounce


 
here's one.

http://www.fxstreet.com/fundamental/market-view/news-and-opinion-from-the-ground/2008-05-08.v02.html

He's been saying it for ages though. I am sure there are many more on bloomberg.


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## evan (12 Sep 2008)

I think the markets have fallen out of love with the euro, and the euro had become very overvalued,


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