-->damit wir bei einer Z-Währung uns verweilen können. Der Rand dürfte, mit dem
wieder ansteigenden Gold-Preis, durchaus eine gute Alternative bilden.

Der Notenbank-Zinssatz ist bei 11 % und könnte durchaus weitere Gelder an-
locken, nachdem die Währung über zehn Monate konsolidiert hat.

Hier zum Zloty:

The Polish zloty has rallied recently despite what we see as rising political risk. We see a rising chance that Lech Kaczynski may win the presidential election run-off on 23 October, giving his PiS party a firm grip on policy. This would be zloty-negative, in our view, because PiS has talked about delaying entry into EMU, sounded cautious on privatizations to foreigners, and appears less fiscally responsible than its potential coalition stable-mate, the PO party.Election momentum seems to be moving in Kaczynski's favour. Tusk's 36.3% of the vote in the first round was about 5 percentage points less than expected while Kaczynski's 33.1% was over 3 percentage points higher than expected. Importantly, we see a risk that smaller left-leaning parties might throw their votes behind Kaczynski in hope of forming a parliamentary coalition with the PiS. With PiS already in control of parliament, we think the outcome of the run-off presents asymmetrical risk biased toward negatives. We expect markets to view a Kaczynski win as a cause for zloty-caution. In contrast, we expect the market to take a Tusk victory as only a partial balance to PiS control of parliament. This is because parliament is ultimately more powerful than the president, who has only a temporary veto on legislation. An added risk is that low inflation may constrain the central bank's scope for raising interest rates in response to PiS fiscal policy initiatives or zloty weakness. Inflation was 1.6% yoy in August vs. the central bank's policy threshold of 1.5-3.5%. We think the yield support is muted anyway: nominal spreads between Poland and Europe are near multi-year lows (180bps on 2-year swaps) but real yield spreads are up from the lows (now around 240bps) at the beginning of the year.We think that the zloty has thus far ignored these political risks because of the small positive Polish basic balance (current account deficit offset by positive FDI) and foreign portfolio inflows, possibly reinforced by deteriorating EMU prospects of neighbouring Hungary. But these portfolio inflows could be disrupted if the Polish economic agenda shifts decisively towards fiscal loosening or if a PiS-PO coalition fails to coalesce after the presidential run-off.

-->The dollar will move higher for another nine months and I therefore warn those that recommend selling the US Dollar.

According my predictions, the Dollar index should have reached $94 by the end of this week but it looks like for the short term, that may not be fulfilled after all. However, it will soon reach the $94 mark (probably in another few weeks).

Last week the Rand, Canadian, Australian and other side currencies remained weak and I predict a similar trend for this week. The British pound and Yen could fall sharply during this week. REMAIN IN BUYING POSITION IN THE US DOLLAR OR DOLLAR INDEX."