butt ugly Chart of the Week:
The U.S. Dollar continues to weaken versus a basket of other currencies. While this may be a net positive for exporters, nearly half of U.S. debt is held by foreign governments.
U.S. Dollar Index (CEC) Daily Commodity Futures Price
Source: TradingCharts.com
The U.S. Treasury keeps discussing their “Strong Dollar Policy”, but its said with a “wink-wink, nudge-nudge” worthy of Monty Python. What could reverse the long-term downtrend? If the Fed raises rates, or the U.S. deficit issues get resolved, or if the Current Account Balance improves, would certainly help.
Source:
The Capital Spectator
