George Soros's erstwhile partner Jim Rogers believes that the dollar is overvalued and after the recent rally against most currencies could end up in currency crisis.The rally in the U.S. currency has been driven by investors covering their shorts, Rogers, said in an interview with Bloomberg.
The dollar has climbed against all of the Global 10 currencies except the yen over the past 12 months.The U.S. currency was at $1.3592 per euro today from $1.3582. He expects Dollar crisis probably this fall or the fall of 2010.
Rogers sounded negative on equities in general and US equities in particular. "The market in the US went up very powerfully for nine weeks in a row, so of course it's time for a correction. Fundamentals haven't changed if you ask me. I don't see the stock market as a great place to be in the next two to three years".
Meanwhile Indian markets went up 4% today, despite most of the Asian Markets ending in red, driven by huge FII flows.
Popular Posts
-
Service tax is a tax levied by the government on service providers on certain service transactions, but is actually borne by the customers.... -
Google has launched a contest to solicit ideas about how to help humanity - Google Project 10tothe100 . "To mark our 10th birthday an... -
What is Nifty Bees? Nifty BeES, the first ETF in India, was introduced by Benchmark Asset Management Company in 2002 and currently m... -
Nifty 50 PR 2x Leverage Index. Nifty 50 Price Returns 2x Leverage Index is designed to generate multiple time return of the underlying index... -
Trading holidays for the calendar year 2023. The National Stock Exchange of India (NSE) has notified trading holidays for the calendar ye...
