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Dollar Tumbling To Record Low Against Swiss Franc, New Lows Against Yen

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posted on Aug, 7 2011 @ 06:25 PM
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For an early look at the risk aversion gripping the market look no further than the USDCHF and the USDJPY, the first of which just took out 0.75, and the second now almost at BOJ intervention levels. Ironically, since the math Ph.D.s have still not recalibrated their models, it is very likely that the collapse in the dollar will lead to an explosion in ES courtesy of the inverse correlation, which will once and for all confirm that global capital markets and now nothing but a robotic circus.


Read more at:

www.zerohedge.com...


Other wonderful things that are happening right now:

Citi Battens Down The Hatches, Prepares For Global Risk Offness In A Few Short Hours

Goldman Cuts S&P 500 Price Target, Charts The Market's 10% Correction

PIMCO: "U.S. Downgrade Heralds A New Financial Era"

Gloating China Says "Has Every Right To Demand US Address Its Debt Problem", Asks For New Global Reserve Currency


Sure is going to be an interesting next week.
edit on 7-8-2011 by MidnightTide because: (no reason given)




posted on Aug, 7 2011 @ 06:31 PM
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To those wanting updates on the DOW futures, check this site out:

www.sgxniftydowfutureslive.com...


(down 273 at the moment)



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