Excerpt from: Financial Spread Betting Strategies
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| November 21, 2007 | | Shorting the U.S. dollar when placing spread bets | The U.S. dollar should most likely be shorted when placing spread bets today. From record high oil prices approaching $100 a barrel to economic weakness to countries threatening to abandon their dollar pegs, the U.S. dollar is sorely out of favour, falling to currencies from the euro to the yen. Forbes reports on just one of the problems facing the U.S. dollar:
Speculation that the Gulf Cooperation Council (GCC), a group of six
oil-rich Middle East economies, could abandon their dollar peg was
another negative lead for the greenback, NTT Smart Trade director
Takashi Kudo said. | | |
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