Currency War is Heating Back Up

Just before 1pm Chicago time the Yen broke par against the Dollar for the first time since the week of April 6, 2009 (low 98.67).

Japanese Yen weekly currency chart, May 9, 2013

Japanese Yen weekly currency chart, May 9, 2013

Then the Euro fell out of bed.

Then the Swiss got clubbed like a baby seal.

The Aussie. The Pound. The Canadian. Everything but the Dollar got crushed. RIGHT AT 1pm Chicago time.

Look at currency charts. See for yourself.

The Aussie (v. Dollar) went right to March lows.

Aggressive types could sell SHORT DATED PUTS (week 2 or 3) into this whack job….but be careful.

Algos having a field day…..just the type of “momentum” they prey on.

By Kevin Davitt
Global Execution and Futures/Options Broker
621 S Plymouth Ct. FLOOR 1
Chicago, IL 60605
Direct) 312-870-1520
Cell) 773-732-5197
AIM) kpdavitt13

kdavitt@rcmam.com
www.rcmassetmanagement.com

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One Response to Currency War is Heating Back Up

  1. Kimberly Hall May 26, 2013 at 11:27 pm #

    Thanks for sharing this. I have observed that dollar has really dropped starting from the previous months. I hope it will rise up for upcoming months.

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