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euro v dollar going in the short term

  • 02-02-2011 12:54pm
    #1
    irishh_bob
    Closed Accounts Posts: 5,700 ✭✭✭


    the euro has had a remarkable rally against the dollar since before christmas , just six weeks ago it was well below 1. 30 , it since leaped to above 1.38 , this wasnt predicted by any of the financial papers , in fact the euro was predicted to flounder further off the back of the impending rescue of portugal and spain , the bears were found to have overestimated the eurozone crisis and despite the fact that the american economy is looking good , thier doesnt seem to be any indication of a dollar rebound

    or does thier ?


Comments

  • #2
    Cillerz
    Registered Users, Registered Users 2 Posts: 51 ✭✭Cillerz


    irishh_bob wrote: »
    the euro has had a remarkable rally against the dollar since before christmas , just six weeks ago it was well below 1. 30 , it since leaped to above 1.38 , this wasnt predicted by any of the financial papers , in fact the euro was predicted to flounder further off the back of the impending rescue of portugal and spain , the bears were found to have overestimated the eurozone crisis and despite the fact that the american economy is looking good , thier doesnt seem to be any indication of a dollar rebound

    or does thier ?

    Correct me if I'm wrong, but the Euro has indeed got slightly stronger with the successfulness of the Portuguese auction of bonds but I think this trend is generally to do with the weakening Dollar. There is talk that the more powerful countries in the World (excluding America) want to remove the Dollar as the World's Reserve Currency and this would eventually lead to a Dollar crises. There are lots of signs of China reducing it's U.S. national debt and some countries not accepting the Dollar any more. Even in America they're accepting Euro's in many places! This is just what I have read.


  • #3
    badboyblake
    Closed Accounts Posts: 48 ✭badboyblake


    I think it was traders who were long Gold short the Euro covering their postions


  • #4
    irishh_bob
    Closed Accounts Posts: 5,700 ✭✭✭irishh_bob


    Cillerz wrote: »
    Correct me if I'm wrong, but the Euro has indeed got slightly stronger with the successfulness of the Portuguese auction of bonds but I think this trend is generally to do with the weakening Dollar. There is talk that the more powerful countries in the World (excluding America) want to remove the Dollar as the World's Reserve Currency and this would eventually lead to a Dollar crises. There are lots of signs of China reducing it's U.S. national debt and some countries not accepting the Dollar any more. Even in America they're accepting Euro's in many places! This is just what I have read.

    thats a very long term outlook , doesnt explain the recent surge by the euro


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