US dollar - Currency expert: "The dollar thumping is just starting"

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Currency expert: "The dollar thumping is just starting"

Thursday, May 28, 2009
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From Newsmax:

The dollar, which has dropped 5 percent against the euro over the past month, has a lot further to fall, says Stephen Gallo, head of market analysis at Schneider Foreign Exchange.

He told Bloomberg TV that the German economy, which shrank 3.8 percent in the first quarter, has probably hit bottom. Economic indicators in both the United States and Europe have stabilized, he points out.

"The market is pretty much convinced that in terms of economic contraction, we're already through the worst."

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Topics:		US dollar \| Currencies

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