[emersonbiggins]

Jesus, look at that intrahour drop!
[web]http://quotes.ino.com/chart/intraday.gif?s=NYBOT_DX&t=l&w=1&a=2&v=s[/web]

[Denny]

I wonder how much impact this news had on the currency markets today? China to diversify reserves

I would expect one concern may be that by diversifying, China won't be sopping as much of the US dollar float that they used to do.

On the other hand, many investment advisors, even U.S. based advisors, recommend that their clients diversity their currency exposure. So, maybe its all for the best in the longer run, even if the U.S. dollar takes a hit at this moment.

[roccman]

$this->bbcode_second_pass_quote('Denny', 'I') wonder how much impact this news had on the currency markets today? China to diversify reserves

I would expect one concern may be that by diversifying, China won't be sopping as much of the US dollar float that they used to do.

On the other hand, many investment advisors, even U.S. based advisors, recommend that their clients diversity their currency exposure. So, maybe its all for the best in the longer run, even if the U.S. dollar takes a hit at this moment.

[drgoodword]

Of all the things that have happened this year...oil prices...subprime mess...gold prices...it is the rock-like drop of the U.S. dollar that is the most spectacular and--for the immediate future--the most concerning.

The economic tectonic pressures being created by this rapid shift in the world reserve currency's value must be enormous.

I've been on the doom side of both peak oil and the housing-crash/credit-collapse since 2005, but I didn't think I'd see something this big happen this fast. Wow.

[Pretorian]

being thinking a lot... losing a lot right now on shorted gold... then decided and bought 3-4 days worth of India's silver production at 15.79... Sold it 10 minutes later and bought at 15.90 again... Yesterday, was thinking that buying at 14.5 was INSANE
Oh well... May be its time, may be its time

[Pretorian]

$16.01

[Roy]

75.32 -- down from 76.03 in less than 24 hours. Its dropping, like a rock.

You called it Roccman.

The question is, where will it find suport? 65 maybe? $1200 gold, $25 silver?

Hmm. I guess most of us here hedged our bets and will be ok when the USDX finally hits rock bottom.

The rest of the schmoes? We tried to warn 'em!

Hillary/Rudi will save them.

[Chuckmak]

Last trade 75.324 Change -0.690 (-0.91%)

[crossthread]

gOING TOO BE A very INTERESTING morning at the DOW open.. Don't cha think?
3/4% drop at the open...
100 oil..
Any takers?

[roccman]

75.21

http://quotes.ino.com/chart/?s=NYBOT_DX

The con is over...the US is well on its way to third world status...

[RonMN]

Merrill Lynch for sale on eBay for $4.99

[RonMN]

The DOW sure took it on the chin today...down over 360 points.

[Daculling]

$this->bbcode_second_pass_quote('Pretorian', 'b')eing thinking a lot... losing a lot right now on shorted gold... then decided and bought 3-4 days worth of India's silver production at 15.79... Sold it 10 minutes later and bought at 15.90 again... Yesterday, was thinking that buying at 14.5 was INSANE
Oh well... May be its time, may be its time

[Chuckmak]

Dollar Index touched 74.9x at around 5am...

eek!

[roccman]

$this->bbcode_second_pass_quote('Chuckmak', 'D')ollar Index touched 74.9x at around 5am...

eek!

[Bas]

wow. It just keeps on dropping, and personally I can't think of what level it will stop, nor have I read about predictions where it would stop.

The pressure on the fed to not lower the rate again is certainly building. BenBee is caught between a rock and a hard place.

[Bas]

$this->bbcode_second_pass_quote('Shannymara', '')$this->bbcode_second_pass_quote('Twilight', 'A')s I understand it (my knowledge is quite informal), you might see some commodities take a quick drop when the Yen strengthens, as the carry trade unwinds a little and commodities get sold to meet margin calls. This is often viewed as an indicator that someone is in pain.

[RonMN]

72.90??? WTF just happened?

Edit:

maybe a glitch in the chart...it now reads 75.28

[FoxV]

I think its time to renew your prescriptions Golem .

Yen is below Y111/us. Could this be the beginning of the Great Unwinding

btw, the dollar index is going down, but according to my charts, all the majors fell against the USD (except the Yen). What is it I'm missing

or is this it:

USD - Yaun
[web]http://ichart.finance.yahoo.com/3m?usdcny=x[/web]
That looks like a distinct acceleration in the last few days

[roccman]

$this->bbcode_second_pass_quote('FoxV', 'I') think its time to renew your prescriptions Golem