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Starting a new (greenback) day
Posted on August 26, 2008
Hello everybody, hope you are fine. While I m writing this lines, the Euro hit a fresh 6 month low against dollar, after a weak IFO Survey and data confirming a 0.5% contraction in the German economy in 2Q, while the Pound reached an almost two years minimum against the American Dollar.While yesterday the U.S. stock market fell sharply on renewed concerns over the health of several financial firms, putting pressure on the American dollar, again is clear that the currency is winning ground not because of it s own strength but because of it s rivals weakness (leave the Japanese yen besid...
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