EUR/USD 1.5600
March 13th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument.
Dollar holders getting bent over a barrel. Gold is up, around $990.
I hope Cryptogon crash traders are managing well out there.
Via: Forbes:
The dollar fell below 100 yen to reach a 12-year low this morning, as well as hitting a new record low against the euro as recession fears sparked a fresh bout of risk aversion.
‘This is a market that is focused on risk more than return and sentiment remains significantly negative that the market is wary about taking on board excessive risk,’ said Divyang Shah at Commonwealth Bank.
The dollar dipped briefly below the 100 yen level for the first time since November 1995 to reach a low of 99.75. Speculation that the Bank of Japan could step in to intervene at these levels meant it failed to hold below 100, however, and at 8.57 am GMT it was trading at 100.08 yen.
The Swiss franc was another focus of safe-haven buying, with the dollar hitting a low of 1.0057 sfr, sparking talk of a breach of parity.
The US Dollar index is kind of like the Emperor at the end of Return of the Jedi right now. (Think very long, very scary free-fall going down, down, down towards a very unpleasant terminus.)