The dollar will fall today against the major currencies. The reason for the weak dollar today is the fears about the new worse report for U.S. Consumer Confidence. Also the New Home Sales release today will show continue with the Housing sector crisis. We can see the bottom in the U.S. housing sector at the end of summer even in autumn said George Marshal forex analyzer in World-Signals.com. The dollar will test the levels of 1.60 in very short time. If the reports for the U.S. economy continue with the negative data the dollar will test successfully the levels above 1.60.
The high oil prices would not allow to the U.S. dollar to recovery. In World-Signals.com see the crisis in United States at least to the end of 2008.