The US Dollar has sunk overnight to a level where it is very close to a break-out to a new downside record. If it does, and the devaluation of the currency resumes, commodity prices will very likely surge much higher. If, on the other hand, the US Dollar strengthens, commodity prices will probably stabilize somewhat. Oil prices of $114.50 may become a distant memory that we will remember with fondness.Wednesday, April 16, 2008
US Dollar Sinks to Near Break-Out Level
The US Dollar has sunk overnight to a level where it is very close to a break-out to a new downside record. If it does, and the devaluation of the currency resumes, commodity prices will very likely surge much higher. If, on the other hand, the US Dollar strengthens, commodity prices will probably stabilize somewhat. Oil prices of $114.50 may become a distant memory that we will remember with fondness.
