Comeback for the greenback?

The battered US dollar, which has depreciated significantly against all major currencies over the past three months, could see a rebound in 2H as risk aversion returns, say currency strategists.

Major currencies against USD since March 2

Currency	Gain(%)
South African rand	28.78
New Zealand dollar	27.97
Australian dollar	25.36
South Korean won	24.46
Brazilian real	21.4
Swedish krona	17.13
British pound	15.6
Mexican peso	14.44
Canadian dollar	13.28
Norweigian krone	12.91
Danish krone	10.9
Euro	10.81
Swiss franc	8.8
Singapore dollar	6.91
Taiwanese dollar	6.88
Japanese yen	1.63

1. Recommended short term-currency trades

ASHRAF LAIDI, CMC Markets

- Long USD against major currencies

- Long SGD against USD over a six month period

DANIEL TENENGAUZER, MERRILL LYNCH

- Long USD against EUR, KRW, INR, BRL and AUD

JEFFREY HALLEY, SAXO CAPITAL MARKETS

- Long USD against EUR and SGD

- Long SGD against AUD and NZD

PATRICK BENNETT, SOCIETE GENERALE

- Long USD against KRW, PHP, RM, EUR and SGD

- Long KRW and TWD against SGD

2. Long term bets

- Long BRL, INR, KRW, Polish zloty and ZAR against USD, EUR and JPY

(Source: TheEdge Singapore, June 22 - June 28, 2009)