Interest Rate Roundup

Wednesday, October 04, 2006

dollar chop

We've seen a lot of wild market action recently -- a big surge in interest rates, followed by a sizable drop ... a big surge in oil and commodities, followed by a sizable drop ... a big decline in stocks, followed by a sizable gain. Lots of wackiness and volatility, in a nutshell. But let's look at the Dollar Index, an index that tracks the value of the greenback against six major world currencies. After tanking in the spring, it has basically gone nowhere, consolidating in the 85-87 range.

What does it mean? I'm not entirely sure. But the dollar action does stand out amid a sea of chaos in other financial markets.


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