The Great Secret: Dollar Rallying


	The Great Secret: Dollar Rallying

muckdog

8-8-2008 4:40 PM

368 views

muckdog says:

Dollar making some major gains the past year.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/a066b6e3-9008-487e-a2cb-56053a098fb0/98E4827F-F555-4B80-9909-01E3E21D34C1/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://blogs.wsj.com/marketbeat/2008/08/08/the-dollars-renewed-popularity/" href="http://blogs.wsj.com/marketbeat/2008/08/08/the-dollars-renewed-popularity/" style="font-size: 11px;">blogs.wsj.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blogs.wsj.com/marketbeat/2008/08/08/the-dollars-renewed-popularity/"><H2>The Dollar’s Renewed Popularity</H2></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blogs.wsj.com/marketbeat/2008/08/08/the-dollars-renewed-popularity/"><P>The euro recently sank as far as $1.5009, <STRONG>pressured by various indicators that things are getting gloomy in the euro zone </STRONG>– from a surprise contraction in Italian second-quarter GDP to comments made Thursday by ECB President Jean Claude Trichet, who admitted the central bank is watching downside risks to growth. He held rates Thursday at 4.25%, but that could mean a cut in is the works soon, further pressuring the single currency against the dollar. <STRONG>Just a few weeks ago, on July 15, the euro had reached a new high above the $1.60 mark</STRONG>.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blogs.wsj.com/marketbeat/2008/08/08/the-dollars-renewed-popularity/"><P>In the U.K., the pound recently fell to its lowest point in almost two years, $1.9147. Its 5% interest rate — which the Bank of England also left alone yesterday — is now <STRONG>“a very, very big target for the bears,”</STRONG> said Ashraf Laidi, chief forex strategist at CMC Markets. “There is more room for interest-rate cuts and for the pound to decline.” </P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/98E4827F-F555-4B80-9909-01E3E21D34C1/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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