The dollar had quite a week, what with decent U.S. economic statistics and worries about upheaval in the Middle East. Can it sustain its run?
Andrew B. Busch, global currency and public policy strategist at BMO Capital Markets, expects the dollar to outperform the euro, he told Melissa Leetoday on the premiere of "Money In Motion."Europe still has to come up with a bailout plan, he said, and next week he expects the Fed will come out sounding a little more hawkish. Adding in the fact that we are in a "risk-off" environment which favors the dollar, Busch said, "Overall I'd like to take advantage of the euro rallying just a little bit more than this and sell it." Busch would sell a rally in the euro up to 1.3945, put a stop loss at 1.4040, and take profits at 1.34.