spadina.refco.ca/sun03nov14.refco -
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Published on: 4/28/2006
Last Visited: 3/8/2007
That's the latest prediction of Bert Liffmann -- portfolio manager for futures and options at the Spadina branch of Refco Futures (www.refcospadina.com) -- who, so far, possesses the Midas touch when it comes to calling the dollar.
It was back in 2002, when our dollar was flirting with record lows, Liffmann bravely predicted a 75 cents US dollar.
Not only has our buck cracked the 75 cents US barrier, but this week it zoomed past 77 cents during trading, though so far it hasn't managed to stick there.
Yesterday, our buck closed at 76.95 cents -- up 0.27 cents US from Wednesday's close.
"My long-term view is we're heading toward par (with the U.S. dollar) over the next decade," Liffmann said yesterday during an interview.His long-term view also calls for a single North American currency, similar to Europe's euro, which, believe me, will be one political hot potato.
In the short term, Liffmann predicts a December futures price of 78 cents US within weeks as the U.S. dollar continues to weaken against major global currencies.But he warns of a temporary change in direction, with the U.S. dollar forming "an interim bottom."
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Liffmann explains international investors are nervous about dark clouds gathering over the U.S. economy -- which so far seems to be enjoying a decent recovery.