Marc Faber Says Dollar May Rise 5—10% Versus Euro

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Recently by Marc Faber: The Frame of Mind of American Economic Policymakers

The dollar may appreciate 5 to 10 percent against the euro in the “near term,” according to Marc Faber, publisher of the Gloom Boom & Doom newsletter.

U.S. equities and the dollar may keep rallying together, reversing a relationship that existed from March to November, Faber said in an interview on Bloomberg Television.

“Sentiment on the U.S. dollar was really extremely negative over the last three months,” Hong Kong-based Faber said. “The other currencies are not much better. The dollar will appreciate against the euro by another 5 to 10 percent, and later on we’ll have to see, but that would be a near-term target.”

The dollar has gained 4.2 percent to $1.4405 per euro this month, and was poised to end a five-month losing streak, on signs the U.S. economic recovery is gaining momentum.

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Dr. Marc Faber [send him mail] lives in Chiangmai, Thailand and is the author of Tomorrow’s Gold.

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