U.S. DOLLAR: MISERY FINDS COMPANY
Futures, Sep 2008 by McMahon, Chris, Yu, Jason
Booker says his three month target against the euro is $1.50. He expects the dollar to fall to 1.01 against the yen, given that they are isolated from most of the world's financial risks. Trevisani's target is 1.52 against the euro and 1.08 against the yen.
Should the United States' economic deterioration ebb, traders will increasingly ask when the dollar recovery begins and how long it will take. And for those with the guts, stamina and available margin, the opportunity could astound.
"We have been presented with the greatest discounting of the U.S. financial system, including the dollar, of all time. And while the rest of the world is panicking, what are you doing T Booker asks. "Do you want to be the last guy to sell the U.S. dollar? The time to do that was five years ago."
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