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
-
NSE Indices launches a new index - Nifty Total Market Index. The Nifty Total Market index aims to track the performance of 750 stocks cover... -
Moneycontrol has introduced a new feature Moneycontrol Terminal - an enhanced version of real time price updates. Though there were live quo... -
What is Nifty Bees? Nifty BeES, the first ETF in India, was introduced by Benchmark Asset Management Company in 2002 and currently m... -
Before we get into details of NSE Level 3 Data , it is important to first understand the basic operations of the stock market. All publicl... -
What is Gold Bees or Gold ETF? Gold ETFs are open-ended mutual fund schemes that will invest the money collected from investors in stand...
