Dec 1, 2004

Dollar Woes

Both the Pound and the Euro are making higher highs against the dollar now. Not the most trustworthy of moves as it is happening after New York close and before Tokyo open but still probably not a good thing.

With the renewed strength in equities and the drop in oil it is probably a sign that we have finished a countertrend period for markets. While the dollar did not get a bounce, accelerating weakness would confirm that idea. Could lead to strength in metals tomorrow.

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