The Euro's best days are past, says Marc Faber, as the fledgling currency is now stuck in a long-term downtrend.
I don’t think that dollar will make a new low. That is certainly against the euro. The dollar bottomed out at 1.51 against the euro. Now we are at 1.34—we can retrace around 4-5% maximum and that the dollar will then probably strengthen.
Implicitly, it won't be challenging the dollar as world currency any time soon either.
Join the conversation about this story »
See Also:
- Inside The Secret Dinner Where Hedge Funds Conspired To Short The Euro
- Here Comes The Start Of The "Euro Is Oversold" Meme
- Faber: The Euro Has More To Fall, S&P Could Fall 20%
Posts
No comments:
Post a Comment