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BLOOM: "The euro’s rally from a four-year low in June resulted in losses for followers of bears from Paul Volcker to Dennis Gartman. Since Volcker, the 82-year-old former Federal Reserve Chairman, said May 13 the euro may face “disintegration,” it’s up 5.99% against the dollar. Traders who held off purchasing the common currency on June 18, when Gartman called it “doomed,” missed a 7.3 % return. Buying on May 6, when European Central Bank President Jean-Claude Trichet said the euro was a “good store of value,” earned 5.28 %."
But some pessimists persist... like Jim Rogers who says the gains won’t last. They feel that the currency area will split under austerity measures undertaken by Greece, Spain, Portugal and other nations and growing divisions with stronger member states like Germany.
