I thought I’d post a chart of the dollar since I’d been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I’m posting a monthly chart.
Note how it’s now holding around the October 1998 levels. That was the time of the Asian financial crisis if I’m not mistaken. The chart sure looks like a popped bubble to me.
By the way, the Economist has an EXCELLENT series on the housing bubble that is GLOBAL in its perspective. I really need to subscribe to that rag!
Jef,
You must read this article – Could a Currency Boycott Stop the War?