Tuesday, June 28, 2011

Foreign Exchange Outlook And Strategy

Refco Global Research sees potential for another 10% to 20% down for the dollar due to massive U.S. current account imbalance and G-7 signal of the need for exchange rate flexibility against Asia. No major dollar rally is expected until the Fed shifts to atightening of monetary policy or ECB cuts rates.Speculation on the timing of Fed rate hike will limit the dollars near term downside potential and could generate a period of consolidation/rebound for the dollar. Rising threat of ECB action to curb Euro rise may also limit the dollars decline. Expect U.S. and EU pressure for Asian currencies to absorb more of the dollars weakness to intensify during 2004 and the dollars downward adjustment to shift to Asian currencies. RGR advises selling Euro JY on rallies.
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Anonymous said...

Th strategy explained in the post is really sound good according foreign currency exchange. But what a investor think about the break down of EUR in comparison to USD.

forex team said...

thank you for your comment