Posted on 11/09/2009 8:38:27 AM PST by TigerLikesRooster
Nov. 9, 2009, 10:52 a.m. EST
Dollar reached 15-month low in wake of G20 meeting
Euro presses back above $1.50
By Deborah Levine & William L. Watts, MarketWatch
NEW YORK (MarketWatch) -- The dollar weakened Monday, pushing an index of the greenback down more than 1% and to the lowest in 15 months, after a weekend meeting of Group of 20 policy makers offered no support for the U.S. unit.
Traders also took heed of an International Monetary Fund report issued at the G20 meeting that said the dollar has moved closer to "medium-term equilibrium" but "still remains on the strong side."
'Risk is bid, the dollar is on its way down.'
RBC Capital Markets
/snip
As expected, the G20's weekend communique made no mention of currency levels.
Meeting in St. Andrews, Scotland, the finance ministers and central bankers vowed to keep stimulus measures in place until a recovery gains a solid footing, encouraging investors to take on riskier assets such as stocks to the detriment of the dollar's safe-haven demand. See full story on G20.
(Excerpt) Read more at marketwatch.com ...
Ping!
Thus far, all going according to Barry and company’s plan.
And the market is up again today 145 points on what?
TARP money was a wonderful gift, was it not?
Dollar very weak and no support yet:
Imports have not risen on price (except for oil and gold). A weak dollar should show up as inflation for a country that imports quite a bit.
Long term bond yields should be going through the roof. Who would want to buy dollars for 10-30 years if the dollar keeps getting weaker. Risk does not equal reward.
The DOW keeps going up on worse and worse news.
Because the dollar is on the skids and looks to be staying that way. So institutions can carry on shorting dollars and buying risky assets with not only no risk, but virtually guaranteed profit.
However any period of sustained dollar strength will cause the massively overstretched Stock Market to crash like Icarus.
Just part of Obama’s plan to destroy America.
And the market is up again today 145 points on what?
And now we understand the rally in stocks metals, etc. We’re watching inflation happen before our very eyes.
Celente predicted major economic collapse before, or shortly after, Christmas without this runnup.
As interesting as the times are today, I can’t wait to see where we are in February.
The tone of my post may come of as taunting, but i meant it as frustration with the stock market.
Your post and a previous post were helpful to explain what’s going on...the market was never a strong suit for me. I just go off the phones ringing at our office and they’ve been for sh!t for the last year now...that stimulus was supposed to boost the steel industry you know... ;) LOL!!!!!!!!!!!!!
Obama's new decree would be announced:
Massive heating subsidy for his political support base
Rationing heating energy across the board.
Severe punitive tax for insulation code violation(if there isn't insulation, they will make one by then.)
Introduction of general heat tax.
Nomination of Heat Czar
Creation of heat future's trading market.
Now +153, See here.
“Imports have not risen on price”
China pegs their currency to the dollar. Unless they revalue the yuan their products won’t rise in price.
“Long term bond yields should be going through the roof.”
Long yields are being held down by the Fed’s policy of Quantitative Easing. This will work until the bond vigilantes decide enough is enough and start demanding an inflation premium on the bonds they buy.
“The DOW keeps going up on worse and worse news.”
The Dow is going up because the dollar gets worse. When the dollar reverses the Dow will be toast.
Bullseye.
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