AABP EP Awards 728x90

Dollar seen gaining some value

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The best currency forecasters say the dollar’s 13 percent slide in the past year is coming to an end as Europe’s deepening debt crisis discourages bets against the world’s reserve currency, Bloomberg reported. Led by Schneider Foreign Exchange Ltd., the five most accurate firms during the six quarters through June 30 as measured by Bloomberg see the dollar trading at $1.42 per euro on average by year’s end, compared with $1.43 on July 8. Against the yen, they predict the greenback will rise to 83 from 80.64. The dollar is regaining its status as a haven after the worst performance over the past year among 10 developed-market currencies based on Bloomberg Correlation-Weighted Indexes. The dollar is up 5.3 percent from a 17-month low on May 4 against the euro.