Will the dollar continue its slide?
*Reuters, by Kevin Plumberg, July 23, 2007
“Many analysts and dealers have said they expect more dollar selling in the days ahead before a sustained rebound.
The U.S. currency is coming off five consecutive weeks of declines, mostly on fears of fallout from the U.S. subprime mortgage crisis.
The dollar index was flat at 80.254 (.DXY: Quote, Profile, Research) after dropping to a 12-year low of 80.117 on Friday. Against the Swiss franc, the dollar edged up 0.3 percent to 1.2043 francs.
“Reflecting the growth and interest rate divergence between the U.S. and the rest of the world, the dollar will likely continue to be treated as the ‘subprime currency,” said Stephen Jen, global head of currency research with Morgan Stanley in London.”
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