Sunday, October 10, 2010

Fed Destroys the Dollar

What would you call a policy that leads to a 15-year-low? WORLD FOREX: US Dollar Pressure Continues, Hits New 15-Year Low Against Yen - WSJ.com
The U.S. dollar has been under pressure for weeks as market watchers continue to ratchet up their expectations the Fed will use quantitative easing to add more monetary stimulus to the U.S. economy

With little of that changed Monday, there has been more selling of the U.S. dollar, which hit another 15-year low against the yen and traded near an eight-month low against the euro.
And don't look too favorably at that Euro statement. Greece isn't over, and Portugal, Spain and Ireland are right behind them.

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