Registered: Mar 2002
09-19-03 04:00 PM
I've been wondering for the last few months what the catalyst would be to end this silly multi-month rally. And it seems that today I have an answer.
After the BOJ failed to support the USD at 115 JPY, the USD is being sold off again against the JPY, down below 114.
This completes the set of important currencies that the USD is (on a multi-year timeframe) falling against - others being EUR, CHF, GBP, AUD, NZD, gold, silver, CRB index.
Gold has broken out to fresh 6-month highs and is sitting near its February high of 391.
Silver is also close to its multi-year high of 5.35 or so.
Still long silver.
Incredibly encouraging that the headlines say "lowest inflation in decades" simply because the CPI gives a reading of 1.6%.