For the Fibonacci followers out there, the DXY (US$ index) at the
current level of 78.38 (down sharply again) has retraced 61.8% of its
rally off the record low of April ’08. The implications the $ weakness
has for inflation and interest rates and thus for the cost of financing
massive deficits at the government level, of refinancing
corporate/consumer America and influencing the cost of living for the
average person is why policy makers must keep watch in the message it
sends to them.
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