by Chuck Butler, Casey Research:
Good day. And a Wonderful Wednesday to you! Hey Sally, do you know what day of the week it is? Come on, you know, it’s hump day! HA! I have no idea why, but that commercial with the camel just cracks me up! I give huge credit to the folks at GEICO and ATT for they have the best commercials on TV. Pink Floyd’s great song, Comfortably Numb is playing on the IPod as I begin to write today. Pretty apropos for all that’s going on these days, eh?
Well, yesterday morning saw the euro fly past 1.34, the Aussie dollar (A$) gain back some of its losses, and Gold move into positive territory after spending most of the European session in the red. The other day, I questioned why we were seeing euro strength, when the markets were calling for a September beginning to tapering of QE. For if the Fed was going to taper, the dollar should rally, and the offset to the dollar, the euro, should lose ground.
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