Here’s a 3 month chart showing how things are going among the currencies:
Good news for the douchebag expats in Buenos Aires who can’t be bothered to learn Spanish and hang around in their own pathetic little groups in the fashionbars of Palermo: Your dollar isn’t going to hell (but I bet that inflation rate is hurting you now).
Brazil’s Real has been on a real tear, now under R$1.90 to the dollar. Ever since Brazil’s top dumbasses-in-suits (you know them as ‘economists’) said the Real would finish at R$1.99 against the greenback…that was 3 weeks ago, y’knowz.
The whole story is pretty simple…local currencies will rally when the commodity complex rises (and let’s not worry about higher material prices crimping industrialized nations’ demand, eh?). For example, remember all that recent shilling about the Mexican Peso about the dive from 14 to 25 against the dollar? Here we are at 13.17…funny old world, innit?