Rogers Foresees Near-Term Dollar Rebound

Jim Rogers, the well-known investor, said that he had been accumulating dollars over the last couple of months expecting a rebound in the near future. He was addressing the Reuters Investment 2010 Outlook Summit in New York.

Rogers, however, is bearish about the U.S. dollar’s long-term prospects. He said that the global crisis was merely going through a temporary reprieve and the long term debt issuance and a weak dollar could drag the world into a deeper crisis.

That would not bode well for various US companies like Ford Motor Co (NYSE: F), Bank of America (NYSE: BAC) and others.