Sunday, February 11, 2007

Dollar continues to duke it out with euro

Despite all of the incessant chatter about the "plunging" dollar (I just saw a reference to "the dollar's value sliding" in The New York Times), the dollar is present fairly stable against the euro. It is currently hovering near $1.30 to the euro, plus or minus a penny. I call such a narrow range stable, not "plunging" or "sliding", but I'm not trying to sell newspapers or advertising.

I continue to expect the dollar to trade in the range $1.25 to $1.33 to the euro for the next few months. Traders and short-term speculators may attempt to push the dollar outside of this range, but any such movement in the near-term would likely be only temporary.

-- Jack Krupansky


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