Today the US$ dropped the most % wise vs. the Euro in one day since the inception of the Euro. This is further evidence that the redemption and repatriation tsunami has come to a close for the moment. Of course, it will come as no surprise that Gold and Silver are up today %4.4 & %3.25 respectively and Oil is up %9.12. We have been writing in this blog repeatedly that as soon as the tsunami subsides we will see a meaningful pick up in commodity prices. Today is just the beginning.
Tuesday, November 4, 2008
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