You know the drill...
Posted on 05/04/2011 9:14:15 AM PDT by Nachum
NEW YORK, May 4 (Reuters) - The U.S. dollar fell to a fresh three-year low against major currencies on Wednesday after an industry report showed the pace of growth in the U.S. services sector unexpectedly eased in April.
For details on data, see [ID:nN04125050]
The U.S. dollar index, which measures the value of the greenback versus a basket of major currencies, fell as low as 72.696 .
The dollar also hit a session low versus the euro and extended declines against the yen after the data.
(Excerpt) Read more at my.news.yahoo.com ...
/sarc
The list, ping
Let me know if you would like to be on or off the ping list
Then how can the long bonds be in such a strong rally?
James Wesley Rawles of Survivalblog.com believes that if the Dollar Index drops below 72 (it has already hit a low of 72.696), a major dollar collapse is imminent.
Back to reality, as ugly as it is. Good post.
You know the drill...
Buyers pouring into Treasuries, yields DOWN sharply.
Gold DOWN.
Silver plunging, DOWN 7% today, on top of huge drops in previous sessions.
The only good news is, oil is down to $109/barrel.
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