Quick drive-by post; too busy to do much else.

[randomness]

The last Fed rate cut (and I do mean last, because there's nowhere left for them to go from here) really did for the dollar.

$1.46 to the € and ¥88.7 to the dollar this morning.

That's compared with a $1.34 euro and a ¥91.2 dollar on Monday, before Tuesday's cut.

Nice post in Alphaville on that this morning:

To speculate against a currency - like the dollar - you need to be able to borrow that currency freely and cheaply.

Now look at what the Fed is providing to the markets: unlimited amounts of dollars at close to zero cost.

Wheee!

Comments

This just proves it...

[ddreslough.livejournal.com]

Usury must have been a sin after all, since now the dollar is doing "well" since we're just giving 'em away. Crazy Bernanke's Money Store. OUR PRICES ARE INSANE! No, really. Our prices. They're insane.