It will, but how much and how far? The US economy is in abetter shape than Europe and has a better chance to emerge first from the current quagmire. I don't think we go much above $1.48, on a spike and panic $1.60. Frankly these two numbers are "gold dreamer numbers". For the next few months, I see the dollar strengthening, and then later in the year weakening again to the 1.18 level and possibly another run to $1.27 (all against the Euro).
Zeev
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