Posted on 11/16/2009 5:17:37 PM PST by FromLori
The U.S. dollar slid to 15-month lows on Monday, boosting world stocks and commodity prices, even after Federal Reserve Chairman Ben Bernanke said the U.S. central bank was monitoring the value of the greenback "closely."
U.S. crude oil futures jumped more than 3 percent as the weaker dollar prompted investors to buy higher-yielding assets such as commodities and stocks.
The greenback weakened on better-than-expected U.S. retail sales data, which stoked risk appetite, and after Asian and U.S. leaders failed to agree on exchange rates at a summit in Singapore.
The dollar briefly pared its losses after Bernanke said the Fed was closely monitoring its value as part of the bank's commitment to jobs growth and price stability.
But he also repeated that U.S. benchmark interest rates are likely to remain low for "an extended period," leading investors to eventually conclude that Fed monetary policy will remain loose for a long time, further weakening the greenback.
"Until the world sees actual action, the U.S. dollar will remain in secular decline," said Peter Boockvar, equity strategist at Miller Tabak + Co in New York.
"Money will go where it's best treated, and monetary and fiscal policy in the U.S. is not currently treating the U.S. dollar well, relative to other countries," he added.
(Excerpt) Read more at reuters.com ...
ping
heard it yesterday on fox new...gov is building another bubble ...time to sell stocks
Well let’s keep in mind what is important shall we
http://www.bloomberg.com/apps/news?pid=20601109&sid=atHiMqxlVsZY&pos=11
Looks like the dollar carry trade has become the newest ponzi scheme. After both the dot com bust and housing/credit bust, soon this one will to. And take all the dollar shorts and foreign equities to the woodshed.
The fed will be caught with its pants down as it never raised rates. No more silver bullets left. Game, Set, Match. KABLAMO!!!
Lunch? While many go with out.
“worker-output increased last quarter” my a$$. More like workers were told that 50 to 60 hour work weeks are to be expected as your now doing the job of two or more.
Do it or lose your job.
I’m sure Jamie Dimon gave Ben a big hug for his continued support in letting JPMC and Wall Street rape the US economy and continuing to cover it up.
No, no banana ben say’s he has it covered :)
http://www.bloomberg.com/apps/news?pid=20601087&sid=as_A0gWmNAVY&pos=2
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.