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18 Jun 2009

Impact on Dollar due to BRIC Meet


1. If you have an interest inForex or currency market than this tip is definetely of a use for you as Dollar is hovering at 80.23 points. One need not worry if one is bullish on dollar as the greenback is still Dollar index is still trading above line support and below major resistance.

2. Gloom can occur on dollar front if the Bric nations are able to decide on alternate currency as a counter balance to dollar. As Euro is threatening the dolalr; same way this currency can also threaten dollar. However Russia is still in talks and it takes a lot of time and effort to bring the thought process in action and thus dollar may not be much effected. However if dollar index breaks 80.35 than it is a cause of concern and one needs to keep an eye on BRIC meet outcome.


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