Is the Worst Over for the Dollar?

Experts predict modest rise for greenback in '08

By Jason Farago, Newser Staff

Posted Dec 27, 2007 12:30 PM CST

(Newser) – After a year that saw the dollar slip to record lows against the euro and its weakest position in decades, the worst might be over for the beleaguered greenback. A survey of 42 strategists by Bloomberg found nearly unanimous consensus that the dollar is set for a gain, with a median prediction of a 3.5% rise against the euro, to $1.40, in 2008.

"Asia and the Middle East know they need to lend some support to the dollar or they're all going to lose out," said one economist, dismissing fears that the dollar might lose its status as the world's primary currency. The dollar's expected rise, however, will curtail the rising exports that hit a record in October.

Euro coins are seen next to US Dollar bills in Frankfurt, Germany. (Associated Press)

Nadine Conrad of Frankfurt, Germany, pays for a hat from a street vendor at 58th St. near 5th Ave. in New York Friday, Nov. 16, 2007. (Associated Press)

A currency exchange employee changes euros and U.S. dollars in an exchange kiosk, in downtown Milan, Italy, in this July 5, 2005 file photo. (Associated Press)

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Is the Worst Over for the Dollar?

Experts predict modest rise for greenback in '08

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Is the Worst Over for the Dollar?

Experts predict modest rise for greenback in '08

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OTHER STORIES ON OUR RADAR

currency • exchange rate • euro • credit crisis • US dollar • US exports

MOST POPULAR STORIES

[ By Views ]

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More Newser Stories

Euro Cracks $1.50, Dollar Hits New Lows

Investors shun low-yielding greenback for riskier currencies

Dollar Headed for Biggest Gains Since '81: Bankers

Greenback set for 17.1% gain against euro

Dollar Hits 2009 Low

Credit rating fears send greenback falling against pound, euro

Dollar's Long Rally Likely to Stall in 2009

Recession, low interest rates will catch up with buoyant greenback

Dollar Soars to 1-Year High

Greenback climbs higher still after Fannie-Freddie bailout

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Newser By Users

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