um what the hell just happened the dollar, I was watching my screens, thought I'd squeeze in a quick game of Halo 3, then all my alarms started going off at once... can't find any news?
1.4662 putting up a fight, haven't seen this kind of instant sell off since last thanksgiving night...
Maybe the word is out on the FED cutting rate tomo....I couldn't figure why the market went up today and wondered if a FED rate cut had been leaked.....
A China "advisor" said it would be a good idea to diversify the countries FX reserves into strong currencies like the Euro. That's all. But the market will take any excuse it can at this point.
You're right scriabino. I find that part very perplexing. Why aren't bonds selling off? You would think that if inflation was ramping higher, bonds would be sold down regardless of Fed policy. Instead they go higher. This is very odd. I guess the Fed must be 'boxed' in at this point. * if they cut to save the economy, dollar weakens further * if they don't cut, the economy weakens and they will have to cut down the road anyways to save the economy. Looks like a lose, lose situation for USD bulls. Look at gold, up another $12 overseas.