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
-
Godrej Consumer Products is developing into a good story in the FMCG space. Inorganic growth, like it's intended buy-out of Sara Lee’s... -
Sensex will hit 1 lakh mark in 5 years. Chris Wood of global brokerage firm Jefferies has said that it will only be a matter of time before... -
S tock markets worldwide have fared terribly during the year 2008. While the US declined 36%, Europe was also severely affected. While UK tu... -
Service tax is a tax levied by the government on service providers on certain service transactions, but is actually borne by the customers.... -
Trading holidays for the calendar year 2023. The National Stock Exchange of India (NSE) has notified trading holidays for the calendar ye...
