The US dollar will test 105 against a basket of currencies in the short term, analyst says [CNBC]
AUSTRALIA&N Z BKG S/ADR (ANZBY)
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Source: CNBC
That opened access to $450 billion of additional dollar funds, with a commitment to keep the arrangement in place for at least six months. However, analysts aren't sure if that amount will be enough to contain the fear among investors who are hoarding dollars as market gains evaporate. Khoon Goh, head of research at Melbourne-based ANZ Bank, thinks the greenback will rise to 105 on the dollar index in the short term. As of Tuesday it stands near 102 "The swap lines will help to some extent. However, it is unlikely to be sufficient given the extent of dollar demand. From a technical perspective, the dollar looks overbought, so some consolidation can be expected. However, this is likely just a pause before another push higher," Goh told CNBC in an email. The dollar spike isn't surprising given extreme market volatility and investor fears that go along with it. But a number of aspects to the rise are worrying some analysts: Any solution to the dollar frenzy is linked to an eventual ea
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