The chart shows gradual weakness of the dollar against the ruble.
Link to the Tom Lydon article.
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2 comments:
Lets hope this feel good rally gives me an opportunity to exit some positions without too much of a loss, or I'll be turning into a long term investor...
Any thoughts on the UK pound, Roger? All I've heard are comments saying it's in for a dramatic revaluation as the credit/debt problems are even worse than in the States on a per capita basis. It's still showing remarkable strength against the Greenback, fell off the proverbial cliff vs. the Euro ealier in the year and is slowly dropping verses the Yuan. Not sure about it's performance vs. the Ruble or what Lime Tootsie (sp?) Rolls are, lol.
I have disclosed owning FXB before, personally. I also own some two year UK sovereign debt (less than two years now) for some clients.
the bear case for GBP seems very onesided, clear as it is and so far has not really panned out.
yes it peaked at 2.11 a while back but that was probably too far the other way.
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