We took profit in US Dollar – Dollar may consolidate now for some time
India Daily Investment Team
Jun. 2, 2005

As you know we recommended US Dollar few weeks back.

We took profit on US Dollar today as the final leg of the initial rally phase occurred with Dutch no vote to EU constitution. US Dollar may now consolidate and build a base before dicing a final direction. Dollar has a few things working for it. The excess liquidity is creating growth in US. Shirt term rates are rising and employment rates relative to Europe and Japan is good. China and other Asian countries are busy buying dollar and inverting the same in Long US Bonds.

The negatives for dollar are well known – trade deficit and budget deficit.

Disclaimer: Trade at your own risk. We are not responsible for any loss. This is just an opinion. Trading in futures or stocks in the market is risky.

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