Currency forecast for the week: the dollar was hard to crack

Foreign Exchange Market Finansy28-01-2008 Trader forecast for the week: the dollar was hard to crack events of last week go down in history. Collapse of stock markets has come to a peaceful and inert Russia, destroying the vision of our stock market as a "safe haven". Surprisingly, the "safe haven" was ... the U.S. dollar, which has shown surprising resilience and growth potential. Poor start to the week was caused by a failure reporting leading financial groups in the fourth quarter of 2007. Monsters of the financial world - Citigroup, JP Morgan and Wells Fargo - have demonstrated multi-billion dollar losses. U.S. stock indexes responded to this record decline, which spread to Asian markets, and on Monday to fully cover and Russia. Those investors who had hoped to wait out the crisis in the mortgage market in the U.S. that have invested in securities of Asian and Russian companies have started to dump their assets. They re-transferred the money into dollars, which predetermined the strengthening U.S. currency. As if this sounds paradoxical, but the country's currency, with which the global crisis began, was (albeit briefly) the most reliable means of investing money. Question - how long?