Jim Rogers commented on his blog that the U.S. has been downgraded but countries like the UK have very high debt will have to be downgraded too.
"You can’t have the UK as triple ‘A’ and the US as not a triple ‘A’. You need to be asking S&P or Moody’s why they haven’t got around doing that. I don’t think, the European countries deserve their ratings."
And he told te FT: that he would not buy the euro now but "I am certainly not selling it as I expect it to go up. If you want to buy a currency I would rather buy the dollar today of those two but I am not doing either".
The Euro has taken a little beating lately (down 4% since May) as investor ran for the US dollar, as bizarre as that sounds.
The ETF for the Euro is FXE.
We track currency ETFs live here.
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