Sunday, February 3, 2008
Dollar seen higher despite soft US payroll
Analysts said there were signs that dollar bears were starting to throw in the towel in the face the U.S. currency's resilience
The dollar may rise next week after the greenback fought off new lows against the euro in the wake of two deep Fed rate cuts and dour economic data.
Posted by dangerous trading @ 04:47 AM (470 views)
2 thoughts on “Dollar seen higher despite soft US payroll”
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paul says:
The dollar may rise next week?
Let’s see it happen before reporting on it, eh.
techieman says:
I think Paul is right and wrong. I think it will go higher and re test Eur 1.44. However if it breaks the support at Eur 1.50 (ish) then it goes lower. Where i think Paul is right is by saying lets see it happen. Having said that there is likely to be some follow through it closed on the highs for the week – basically the Fed isnt gonna cut rates again until they have some more data to look at! Longer term it looks like Eur 1.50 will break.