Friday, June 27, 2008

A Meltdown Developing

The markets today were quite interesting. Crude made all time new highs topping out above $140 dollars per barrel. COLOMBIAN PESO melted down on the back of the Finance minister call to do anything necessary to stop the currency appreciation. Chile was close behind as were a large assortment of of Emerging Market Currencies. We have seen this all before and I think I want to see some follow through before saying that it will continue. Clearly the markets are nervous. Stocks are suffering and High Yielding currencies are under pressure. For now I will stay the course (see previous posts) and see what the market gives me.

Good Luck and Good Currency Trading



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