Tuesday, October 5, 2010

The Currency Games Can Have No Winner; Next To Move: The Euro

The Bank of Japan announced QE and a drop in interest rates (yet the want to Yen to drop, mind boggling).

Currencies have been a game for the last few months, one with no possible winners. The central banks all are rearranging the chairs on the Titanic. You know what happened with it.

1 month: In the lead: the Euro!

3 months: In the lead: the Aussie dollar!

Next move: the Euro. Expect some announcement for a downgrade of a PIIG country or something like that.

Got FXE straddles?

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