Thursday, May 22, 2008

Dollar Crumbles

The dollar continued to weaken as crude raced above 132.00 during New York trading. Mr Buffett didn’t help the situation at all by stating “Dollar will continue to devalue, polices needed to correct slide have not changed”.

It seems that the market is looking for any opportunity (once again) to sell the dollar. Germany Business confidence was unexpectedly high and couple that with crude prices and the dollar didn’t stand a chance.

In Argentina Yields came off (HARD) and the currency stregthened (this time not because of the CB) as the Farmers Strike officially came to a halt.

Good Luck and Good Currency Trading



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