I am expecting a bounce back for the canadian exchange rate against the dollar. I have been moving from US dollars into canadian to make the purchase of more NORONT shares a little more straightforward. I use Etrade Global Account. When the US dollar weakens again, this will make our canadian shares that much more valuable in American dollars.
Here is a couple of quotable quotes from today Washington Post:
But some are not counting on the dollar's bounce to last long and are trying to get their clients to shift their payments over to other currencies. "The rise of the exchange rate is temporary, like a momentary recovery of consciousness just before death," said He Fan, an international finance researcher at the Chinese Academy of Social Sciences.
And from Rajesh Jain
"Today's stronger dollar runs counter to all the widely held economic theories. There is so much volatility, everything is in a state of flux. What we are seeing is not related to reality."
And for Old Joe.. a little goldbug slant
Wheeldon offered a similar view. "When people think, 'Where should I put my money?' and they see things like Iceland's currency falling off the cliff, they say, 'Well, you have to put your money somewhere, why not the U.S. dollar?' "
Why NOT the US dollar? I've got a few hundred billion reasons and more coming.
BK