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Did the Fed tighten while we were getting a cup of coffee? The greenback is soaring against all...

Did the Fed tighten while we were getting a cup of coffee? The greenback is soaring against all other currencies, with the dollar bull ETF (UUP) gaining 0.6% - an unusually large move for that vehicle. Strength against the yen (FXY -0.3%) and the aussie (FXA -0.9%) are givens of late, but the greenback is up about 1% vs. both the loonie (FXC) and the swissie (FXF), and about 0.6% vs. the euro (FXE) and cable (FXB). Getting hit are Treasurys (TLT -0.5%), the dollar bear ETF (UDN -0.6%) and of course, gold (GLD -0.7%).
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Comments (5)
  • jklk0429
    , contributor
    Comments (188) | Send Message
     
    "The greenback is soaring against all other currencies," NOT. Have you been tracking it against the Renminbi?
    17 May 2013, 10:00 AM Reply Like
  • phdinsuntanning
    , contributor
    Comments (1283) | Send Message
     
    my bet is that this is the first consequence of Japanese capital starting to leave the island and the JGBs to avoid being totally smashed by the devaluation, so they are going liquid before start the global shopping frenzy.
    17 May 2013, 10:43 AM Reply Like
  • lasvegasbrad
    , contributor
    Comments (54) | Send Message
     
    PHD, yes good point, that is a lot of cash fleeing Jap. And they wont be buying Yuan with that. Didn't we just read that China is imposing stricter "hot money" rules?
    17 May 2013, 10:58 AM Reply Like
  • 7of9
    , contributor
    Comments (368) | Send Message
     
    Strong dollar is not what the Fed wants. It is going to lower corporate earnings and lower inflation.

     

    Other central banks are outdoing the Fed. Race is on to see which central bank can print money at the fastest rate!
    17 May 2013, 02:48 PM Reply Like
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    Dollar index broke out of its upside range, cf. last July's top. Key to watch if it can hold this trend.
    17 May 2013, 03:14 PM Reply Like
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