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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: bart13 who wrote (81413)5/4/2007 12:01:31 PM
From: Real Man  Read Replies (1) of 110194
 
I think I disagree on that one - USD moves sharply lower as soon
as coupon passes start, while stocks (and especially gold)
move higher. The reverse
is true once the Fed stops the series of coupon passes. See
Oct. - Dec. 2006, for example - a series of coupon passes,
and the dollar dropped from 87 to 82.5. No coupon passes -
a rally from 82.5 to 85 mid-Feb. The coupon passes restarted
on Feb.,26, and then much, much more from early April. The latest
passes caused the dollar drop through LT support at 83, now
threatening the last line of defense at 80-81. This is support
level, were it not for all the printing, the dollar should have
bounced. Overall, I think the dollar is extremely weak, given
that 80-81 is a very strong support level.
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