Interest Rate Roundup

Tuesday, June 02, 2009

Currency traders "selling Geithner"

Lo and behold, it's another free-fall in the dollar in the wake of the "Geithner Goes To China to Beg for Creditor Mercy" trip. DXY now down 81 bps to 78.34, the low of they day. Gold up $6 and change. Crude oil back to positive after trading down most of the day. And the beat goes on. The president of Russia, Dmitry Medvedev, is openly talking about a multi-national currency that would reduce dollar risk. Everything from the Brazilian real to the British pound is gaining ground against the buck.

1 Comments:

  • meanwhile the market heads north. What does it all mean? It appears a weak dollar is good for stocks.

    By Anonymous Anonymous, at June 2, 2009 at 3:32 PM  

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