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  • #6,241
  • Mar 12, 2008 5:37pm Mar 12, 2008 5:37pm
Dollar Falls to Lowest Since '95 Versus Yen; Bush Cites Decline

By Ye Xie

March 12 (Bloomberg) -- The dollar fell to the lowest since 1995 against the yen after President George W. Bush said the dollar is ``adjusting.''

The U.S. currency plunged to a record low against the euro earlier as firms from Citigroup Inc. to Goldman Sachs Group Inc. said the Federal Reserve's plan to inject $200 billion into the banking system may fail to break the freeze in money-market lending. Bush's comments were in an interview with the U.S. Public Broadcasting Service to be aired later today.

``We have a perfect storm brewing here,'' said Alan Ruskin, head of international currency strategy in North America at RBS Greenwich Capital Markets Inc. in Greenwich, Connecticut.

The dollar traded at $1.5568 per euro at 5:53 p.m. in New York. It touched $1.5573 per euro, the weakest level since the European currency's 1999 debut. The U.S. currency dropped to 101.35 yen, from 103.42 yesterday, and touched the lowest since December 1995.

Bush also reiterated his commitment to a strong dollar.

``We have a dollar that's adjusting, and I am for a strong dollar,'' he said.

To contact the reporters on this story: Ye Xie in New York at [color=#0000ff][email protected][/color]
Last Updated: March 12, 2008 18:00 EDT
Humble Lifetime Member
  • #6,242
  • Mar 12, 2008 6:17pm Mar 12, 2008 6:17pm
Did someone warn bush that he doesn't set the USD policy? He seems confused...
  • #6,243
  • Mar 12, 2008 6:29pm Mar 12, 2008 6:29pm
They are on drugs. Look at USDJPY - all the ground gained yesterday lost today again. Daily shows a huge monster bull bar then a huge monster bearish one practically mirroring each other. I call that the cocaine setup

But to be frank, it is impossible to overcome a bear market in one take. Of course there was gonna be a selloff. The market rarely makes "V" shapes with that steep a slope. It just doesn't work that way.

Good luck all, I'm taking the rest of the month off (or will try anyway).

Quoting cesarnc
This is unbelievable..

Dollar drops to record low against euro on "speculation Fed Plan won't work"

I beg your freaking pardon? Yesterday Dow had the best day in 5 years EXACTLY on Fed Plan!!!

Too good I'm sidelined... This is too fucking crazy, imvho. LOL

Rainy day here at the beach BWR. And dial up conn, too... So there is few to do here but work. (BLERGH)...

Cya later
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #6,244
  • Mar 12, 2008 11:31pm Mar 12, 2008 11:31pm
Quoting Ash
Dollar Falls to Lowest Since '95 Versus Yen; Bush Cites Decline

By Ye Xie

March 12 (Bloomberg) -- The dollar fell to the lowest since 1995 against the yen after President George W. Bush said the dollar is ``adjusting.''

The U.S. currency plunged to a record low against the euro earlier as firms from Citigroup Inc. to Goldman Sachs Group Inc. said the Federal Reserve's plan to inject $200 billion into the banking system may fail to break the freeze in money-market lending. Bush's comments were in an interview with the U.S. Public Broadcasting Service to be aired later today.

``We have a perfect storm brewing here,'' said Alan Ruskin, head of international currency strategy in North America at RBS Greenwich Capital Markets Inc. in Greenwich, Connecticut.

The dollar traded at $1.5568 per euro at 5:53 p.m. in New York. It touched $1.5573 per euro, the weakest level since the European currency's 1999 debut. The U.S. currency dropped to 101.35 yen, from 103.42 yesterday, and touched the lowest since December 1995.

Bush also reiterated his commitment to a strong dollar.

``We have a dollar that's adjusting, and I am for a strong dollar, at least.. until I step down'' he said.

To contact the reporters on this story: Ye Xie in New York at [color=#0000ff][email protected][/color]
Last Updated: March 12, 2008 18:00 EDT
  • #6,245
  • Mar 12, 2008 11:33pm Mar 12, 2008 11:33pm
Quoting Plutonite
...Good luck all, I'm taking the rest of the month off (or will try anyway)...
Nah, it's only the 13th! You'll be back tomorrow.
Carpe Divitiae
  • #6,246
  • Mar 13, 2008 12:13am Mar 13, 2008 12:13am
WTF. 300pips range on GJ and we are just in Tokyo??
Wondering what will happen when London open..
  • #6,247
  • Mar 13, 2008 12:17am Mar 13, 2008 12:17am
UJ testing 100 now.. and nobody's here..
  • #6,248
  • Edited 12:32am Mar 13, 2008 12:29am | Edited 12:32am
Quoting dd33
WTF. 300pips range on GJ and we are just in Tokyo??
Wondering what will happen when London open..
The London boys may try and turn it around, a bit, but yesterday's lows are gone, Feb's lows are gone, and last weeks lows are struggling to hold... I wouldn't be surprised to see 201.7x before or during London.

Edit: PS. Don't quote me on that. That was not a call. Just thinking out loud.
Carpe Divitiae
  • #6,249
  • Mar 13, 2008 12:53am Mar 13, 2008 12:53am
Quoting fsiltd
The London boys may try and turn it around, a bit, but yesterday's lows are gone, Feb's lows are gone, and last weeks lows are struggling to hold... I wouldn't be surprised to see 201.7x before or during London.

Edit: PS. Don't quote me on that. That was not a call. Just thinking out loud.
Last weeks low means nothing since it had been breached. The road to the downside will be decided by UJ-100 will hold the line or not. This baby had move 300 pips without retracement. So im thinking we might hit some heavy support around here and probably will see some retracement.
But with a WTF market like these.. I could be wrrrooonnnnggggg... and UJ 100 will be sliced like a hot butter...
  • #6,250
  • Mar 13, 2008 1:09am Mar 13, 2008 1:09am
Quoting dd33
WTF. 300pips range on GJ and we are just in Tokyo??
Wondering what will happen when London open..
when you see shit like that 9-10 something is about to happen. don't get
If I Go Broke Trying Then I Will die happy.
  • #6,251
  • Mar 13, 2008 1:52am Mar 13, 2008 1:52am
Good morning everyone!

I feel sorry for the Bull's (shit) who were long last night expeting GJ to reach 208.50 / 209.xx / and possibly even 211.xx. It was possible, according to the charts (on a technical basis) but fundamentally, it wasn't going to happen. I hope they had there SL's tight. WTF, we even had technical experts come in and say go long.

Sell on any rallies if you are trading GJ. WTF, for that matter Sell the $ on any rallies. We are in for a nice long ride down. Then a little up, then down, then a little up, then down, etc........

Let's get this party started.
Humble Lifetime Member
  • #6,252
  • Edited 1:56am Mar 13, 2008 1:54am | Edited 1:56am
I can see Bernake waking up and looking at the Asian market and shaking his head.........:surprised

Now should we get a full point cut on Tuesday????

It's time to clean out the market and let those folks who aren't doing business correctly fall.

HOLLA
  • #6,253
  • Mar 13, 2008 2:47am Mar 13, 2008 2:47am
Quoting Turtle
I can see Bernake waking up and looking at the Asian market and shaking his head.........:surprised

Now should we get a full point cut on Tuesday????

It's time to clean out the market and let those folks who aren't doing business correctly fall.

HOLLA
Possibly so, if we do.......................









Sell on the Rally!
Humble Lifetime Member
  • #6,254
  • Mar 13, 2008 3:01am Mar 13, 2008 3:01am
Quoting Ash
Good morning everyone!

I feel sorry for the Bull's (shit) who were long last night expeting GJ to reach 208.50 / 209.xx / and possibly even 211.xx. It was possible, according to the charts (on a technical basis) but fundamentally, it wasn't going to happen. I hope they had there SL's tight. WTF, we even had technical experts come in and say go long.

Sell on any rallies if you are trading GJ. WTF, for that matter Sell the $ on any rallies. We are in for a nice long ride down. Then a little up, then down, then a little up, then down, etc........

Let's get this party started.
sounds like a SHONG to me.
If I Go Broke Trying Then I Will die happy.
  • #6,255
  • Mar 13, 2008 3:10am Mar 13, 2008 3:10am
Quoting Moe
sounds like a SHONG to me.
Humble Lifetime Member
  • #6,256
  • Mar 13, 2008 3:34am Mar 13, 2008 3:34am
And we have a sub 100
  • #6,257
  • Mar 13, 2008 3:46am Mar 13, 2008 3:46am
E.U 1.5713 here we come WTF is happening with yen :surprised
Just Trade It
  • #6,258
  • Mar 13, 2008 5:37am Mar 13, 2008 5:37am
Looks like a bye-bye-dollar- day today... LOL...

Gotta go.. Cya
  • #6,259
  • Mar 13, 2008 5:39am Mar 13, 2008 5:39am
Quoting Big Wave Rider
E.U 1.5713 here we come WTF is happening with yen :surprised
The Yen is getting hammered. The new carry trade currency of the not so distant future will be the "$".
Humble Lifetime Member
  • #6,260
  • Mar 13, 2008 6:27am Mar 13, 2008 6:27am
Okay, I have news:

From now on all news is officially bad news. Doesn't matter if it's old bad, new bad, bad meaning bad or bad meaning good. It's all bad. There is no more good news.

Off to Russian Comparitive Politics Midterm.

Do svidaniya dollarski
Patience + Humility + Study = Success
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