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
-
Trading holidays for the calendar year 2024. The National Stock Exchange of India (NSE) has notified trading holidays for the calendar yea... -
As we all know, an index fund is a type of mutual fund or exchange-traded fund (ETF) with a portfolio constructed to match or track the c... -
What is Gift Nifty? Gift Nifty is a new identity given to SGX Nifty, available for trading in NSE IX with effect from July 3. Instead of Si... -
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... -
Costco Wholesale and Walmart are both starting to sell gold bars. First, Costco sold gold bars to its members looking to invest in more than...