Friday, April 25, 2008

Peso is now at 42

In my January 1, 2008 post I said:

I do not see the Peso going to 35. I even see it hover around 40"s for the whole year. I also see it weakening to 43 to 45 briefly to scare away short speculators. I saw it happen with the US dollar years back, with the Euro, Yen and others. Be careful.

Well the news today says:

The peso weakened past the 42-per-dollar mark Friday as jitters on rising consumer prices added to offshore investors' worries about a US-centered global credit crunch.

And it is forecasted to breach 42.50 soon.


I am not saying I am right again, similar with my forecast with Gold. What I can say be careful. I do not see a strong US dollar in the near term, now a strong Peso. I see a moderately strong Peso trade carefully.