U.S. Dollar Index Breaks Down
In early April, we looked at the US dollar doing poorly versus the Euro.
Today, we see another depiction of this via a good chart from Jeff Saut. The dollar has broken its most recent level of support.
To those short the dollar, the trend remains your friend . . .
“Risk versus Reward”
Equity Research Department, Raymond James & Associates
April 16, 2007
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The scary part about the fall, it is no longer responding to the Fed hawkish talk. In addition, this lower dollar is exerting additional upward pressure to already rising inflation.
Posted by: V L | Apr 16, 2007 12:27:13 PM
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