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To: Perdogg

The dollar is a market just like stocks, bonds and commodities.

The “short the dollar” trade has a lot of gains in it, and the Fed has put out contradictory information for people shorting the dollar in the last week.

So the Forex traders will cover their trades. When they do that, the dollar goes up - in the short term.

People need to learn to not pay too much attention to a single day, and to pay much more attention to trends. The trend on the USD has been down - hard - for a couple months.


54 posted on 11/28/2007 12:59:17 PM PST by NVDave
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To: NVDave
Indeed the trend has been down but it is nothing close to what it was in the 70’s under the peanut farmer “Jimmah Cahtah”

I believe at the time when the dollar was at its lows only about 27% of the worlds currency reserves were in the dollar as compared to today when about 65% of the worlds currency reserves are in the dollar.

77 posted on 11/28/2007 1:51:02 PM PST by aroundabout
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