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John Lounsbury
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John Lounsbury, Managing Editor and Co-founder of Global Economic Intersection, provides comprehensive financial planning and investment advisory services to a small number of families on a fee only basis. He has a background which includes 34 years with a major international corporation, 25... More
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  • Dollar Slumps To Support Level 2 comments
    Sep 7, 2012 7:27 PM | about stocks: UUP, UDN

    The U.S. dollar got crushed today. See Dollar Plummets on Weak Jobs Report.

    The 5 Min. Forecast has a good graphic that shows the support for the dollar at current level:

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: UUP, UDN
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  • untrusting investor
    , contributor
    Comments (9906) | Send Message
    The dollar has been declining for several weeks now. So it seems jobs is not a main driver in the recent dollar weakness. Whereas the euro has gone from about 1.20 to 1.28 over the last few weeks corresponding with the dollar decline.
    7 Sep 2012, 10:26 PM Reply Like
  • John Lounsbury
    , contributor
    Comments (4052) | Send Message
    Author’s reply » Very true. Since the high in July the Dollar has declined about 4.3% against the dollar index. But today there was a move of more than 1.31% down against the euro, a huge one day move. That was instigated by a combination of the weak employment report and the drinking of the Draghi Kool Aid.
    8 Sep 2012, 01:11 AM Reply Like
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