Could the devaluing Dollar be volatile in the future?
*Bloomberg, by Min Zeng, December 3, 2007:
"At a time when everyone from billionaire investors such as Warren
Buffett and Bill Gross to celebrities want nothing to do with the
dollar, a growing number of strategists say the stage is being set for
a rally in 2008.
The U.S. budget and trade deficits are narrowing in tandem for the
first time since 1995, when the currency gained 8 percent as measured
by the Federal Reserve's U.S. Trade Weighted Dollar Index.
'I am confident that the dollar will have a significant rally next
year, especially against the euro and the pound,' said Stephen Jen, the
London-based head of currency research at Morgan Stanley, who expects
the U.S. currency to strengthen to $1.35 by December 2008. `The
deficits are shrinking fast.'
The dollar weakened to $1.4661 against the euro at 9:07 a.m. in New
York, from $1.4633 at the end of last week."
While Berkshire Hathaway Inc. Chairman Buffett and Gross say investing
in U.S. financial assets is a losing proposition as the nation's
economic and political dominance wanes, improvements in the deficits
may provide a respite for the dollar after it tumbled 12 percent this
year."
*This information is solely a highlight of the opinion of a third-party publication and is incomplete. Please subscribe to this publication for the full and timely opinion of the author and call a Monex Account Representative for any additional up-to-date information. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
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