Wed 18 Mar 2009
Hear that giant crashing sound? That was the sound of the US Dollar dropping 2.5% today when the Fed announced it will be buying treasuries.
Here’s the 30 minute chart. I’ll let you guess when the FOMC meeting was:
That’s a big single-day move, sure to be felt like an earthquake all around the world… let the race of currency devaluation begin continue!