US Dollar Mixed Against Currencies

US Dollar Mixed

The U.S. dollar today was mixed and without much movement, as relatively little news of significance emerged to effect the greenback.

Other currencies were similar, other than the British pound which continues to be hammered by the numerous events and pressures it's undergoing.

Neither currency is particularly appetizing at this time, neither will the be over the long term.

The U.S. dollar seems to have a chance to strengthen based on perhaps nothing else than contrarian investing, as most people have been dollar bears for a long time, and little positive is leaking out about the currency.

US Dollar Mixed

Jim Rogers: Dollar May Rally

While Jim Rogers has no faith in the U.S. dollar in the long term, and expects it to be replaced some time as the world's reserve currency, at the same time he's holding on to his dollars at this time because everyone understands the weakness and poor future outlook of the dollar, and have priced it into it, and so that could set things up for a rally, that while not sustainable, could make some money for investors fairly quickly.

So Jim Rogers is holding his U.S. dollars in order to offload his dollar holdings if and when a rally starts.

Rogers added that the bull market in U.S. bonds is winding down, and equities will go nowhere overall over the next 10 years or so, and will largely move sideways.