Feb. 25 (Bloomberg) -- Jim Rogers, co-founder of the Quantum Hedge Fund with George Soros, said he expects the dollar to advance this year and will use any gains to sell his remaining investments linked to the U.S. currency.
The dollar will rally in the short term before it slumps again, said Rogers, chairman of New York-based Rogers Holdings. He didn't specify what would cause the gain and declined to say how much of his assets are in dollars.
``I'm expecting a rally,'' Rogers told reporters in Dublin today. ``Nothing goes in straight lines every quarter.''
The dollar has fallen against 12 of the 16 most-active currencies this year on speculation the Federal Reserve will keep cutting its benchmark interest rate to revive growth.
It has slid more than 11 percent against the euro in the past 12 months, dropping to a record $1.4967 against the European single currency on Nov. 23. It traded at $1.4808 versus the euro by 3:30 p.m. in London from $1.4827 at the end of last week.
Rogers, 65, has previously said he is betting on a long- term decline in the dollar and said in November investors should sell the currency. He said today he has been buying the Swiss franc, the yen and agricultural commodities, including cotton, sugar and coffee.
Rogers, who predicted the start of the commodities rally in 1999, traveled the world by motorcycle and car in the 1990s researching investment ideas for his books, which include ``Adventure Capitalist'' and ``Hot Commodities.''

(Source)⇒Bloomberg