Sunday, September 23, 2007

The Fall Of the US Dollar

The Federal Reserve’s decision to cut interest rates this week may have been helpful to stocks but is bad news for the U.S. dollar.
The Canadian dollar rose above parity against the US dollar for the first time since 21 years ,helped by soaring oil,gold and commodity prices. The U.S. dollar dropped to an all time low against the Euro,and fell against the Swiss Franc, British Pound, Australian Dollar and Japanese Yen.
The best currency plays will be in Asian currencies, buying the Japanese Yen, through futures or buying the ETF symbol FXY, I also like Singapore, a good way to buy it is through the ETF symbol EWS.
I have been long the FXY and EWS and will buy more on any pullback.

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