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

[r-ness.livejournal.com]

:(

I've been reading in the Irish Times about all the shoppers heading up the M1 to Newry to take advantage of the price differential now that the pound is heading for parity with the euro. Pretty crazy stuff, with mile-long tailbacks and people fighting over shopping trolleys.

Best of luck with everything!