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The greenback sinks to an all-time low against the Swiss franc, buying just CHF 0.9255, and...

The greenback sinks to an all-time low against the Swiss franc, buying just CHF 0.9255, and continues falling against the euro, yen, cable, aussie and loonie. A prescient Mohamed El-Erian warned the dollar can no longer be counted on as a safe-haven currency. UUP -0.3%. UDN +0.3%.
Comments (9)
  • lark
    , contributor
    Comments (54) | Send Message
     
    The FED is bailing out Europe.
    24 Feb 2011, 10:17 AM Reply Like
  • wyostocks
    , contributor
    Comments (7620) | Send Message
     
    Each day there is another chip off the US block.
    America is eroding away drip by drip.
    24 Feb 2011, 10:23 AM Reply Like
  • Harry Tuttle
    , contributor
    Comments (2221) | Send Message
     
    So these geniuses think the Yen is a safe haven because the US has too much debt and the Fed prints too much money?

     

    The problem with believing religiously in market efficiency is that it leads to nonsensical conclusions.

     

    On current trends, Japan will go broke before the US and the trend is getting worse faster for Japan. Of course, making that kind of comparison doesn't get you any press.
    24 Feb 2011, 10:28 AM Reply Like
  • woollyB
    , contributor
    Comments (1019) | Send Message
     
    On the other hand, history's biggest debt bubble is dollar-denominated. Last time liquidity got jammed up and next time liquidity gets jammed up .... people need dollars whether they like it or not.
    24 Feb 2011, 10:34 AM Reply Like
  • nyuszika45
    , contributor
    Comments (633) | Send Message
     
    "Prescient"? Sounds like a paid political announcement to me.
    24 Feb 2011, 10:46 AM Reply Like
  • bbro
    , contributor
    Comments (9319) | Send Message
     
    Must be because the Swiss Military is so strong....
    24 Feb 2011, 10:47 AM Reply Like
  • kmi
    , contributor
    Comments (3980) | Send Message
     
    Of the 6 how many are likely to intervene to depreciate their currency hmmmmm.... I think odds are good on at least 4....
    24 Feb 2011, 11:14 AM Reply Like
  • Bozerdog
    , contributor
    Comments (464) | Send Message
     
    he's right, the dollar is not safe because it is so dependent on oil. at least the rest of the world is increasingly sharing in our addiction.
    24 Feb 2011, 11:15 AM Reply Like
  • lark
    , contributor
    Comments (54) | Send Message
     
    There you are dollar has to be weak because food, oil and precious metals are priced in US dollar, if the US dollar strength inflation will peak up in Europe so there would be a social unrest,Europe will be in the same as in North Africa.
    24 Feb 2011, 11:37 AM Reply Like
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