Quote:
Originally Posted by Slava
I still think that the dollar closes this year at about .93-.94 and probably closes in 2008 around 0.95
Most of the gains to this point have been due to a weaker than expected US economy and high commodity prices. I think that the price of oil comes back a little over the next year or two ($65-70) and Canadian growth drops by a bit to bring this change about.
But what do I know...I'm a far cry from an economist!
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I have been watching the dollar and it never drops below $0.94 for more than a day. It always bounces back up the next day. I think at the minimum it closes the year at $0.95.
Last I heard from economists, the general consensus was that if things kept up, the dollar would reach $0.96 around September, which seems to have been correct. They also said that they expect parity next year.