I guess I'm back on, after a few days where financial events had slowed down I figure due to the election. Today the ECB dropped prime interest rates by 50 basis points to 3.25%; the Bank of England dropped their by a whopping 150 basis points to 3.00%; and the Swiss National Bank dropped rates by 50 basis points to 2.00%.
The European liquidity crisis is in full swing, and this is good news for the value of the dollar relative to these respective currencies (euro, pound, swiss franc). The euro appears to be having a particularly strong correction over the last couple months.
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