The Comeback of King Dollar?

Over the last eight trading days, from April 22 to May 2, the U.S. Dollar increased by 2.57% (from 69.7218 to 71.5147), as measured by the Federal Reserve's Trade Weighted Dollar Index for Major Currencies, data available here.

This is the largest 8-day percentage increase in the dollar in more than 3 years, since January 7, 2005, when the dollar increased by 2.74% over a 8-day period.

Comments

[Coelacanth:]

Striking isn't it?

At the moment the beleagured dollar is earning back everything it lost against the euro today (roughly from 1.5520 to 1.5463). One of the catalyst seems to be UBS reporting earnings way below consensus with another $11 billion in write-downs. 5000 lay-offs too.

I'm not sure it's so much the dollar appreaciating against the euro as much as it's the euro struggling against other currencies.

2008 May 06 04:01 AM

[Martin Lowe...:]

I have been suggesting getting out of the Euro and into Dollar and Asian currencies for a few months now. Its payoof time soon. www.lompie.blogspot.co...

2008 May 06 11:53 AM

[mark van:]

more garbage out of the mouth of dr perry...the dollar is down big time today and oil is at an all time high of over $122 a barrel...

2008 May 06 12:18 PM