U.S. Dollar: Cliff Diving Again
Is this an unorderly decline for the dollar?
These last two days have been bad for the dollar. We are seeing heavy losses against the Swiss Franc, the Euro, the Australian Dollar, and The Japanese Yen. (The Pound is going down even more).
After Bernanke lowered rates to effectively zero and said he was starting up the helicopters, currency traders decided the U.S. Dollar is a weak currency.
Take a look at these two charts. The Top one is from today and the bottom one is the one I posted yesterday. Not good.