RSSExperts forecast that the dollar will get worse than what it is at present. The financial market has already seen the dollar dropping to the record lowest against Euro. The dollar also faced a multi year low against the Swiss franc, Japanese yen and the Malaysian ringgit. In this week, the dollar has hit successive all time lows against the Euro. It is the first time that dollar has crossed the lowest mark of 1.50 against the euro since 1999.
Experts however say that the dollar will recover till the end of 2008. Here's a small excerpt from cnn.com in regards to where the dollar is heading.
Experts however say that the dollar will recover till the end of 2008. Here's a small excerpt from cnn.com in regards to where the dollar is heading.
Greg Anderson, executive director of forex strategy at ABN AMRO, expects the greenback to move towards $1.56 against the euro as 2008 comes to a close.
Ertse Bank's Francomano, however, argues that the dollar should wind up around $1.46 against the euro by year end as investors are lured back in by a discounted greenback.
"When the bad data has been processed and the Fed has cut rates to 2 percent or so, then expect the dollar to look cheap," said Francomano.For further analysis and information log on to cnn.com.
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