IKN

a plague o both your houses

The dollar’s bottom is in! Proof here!

Contarian indicator of the day (perhaps even the year) is brought to you by Reuters as it reports the following (Spanish language link):

Peru’s Central Bank said Wednesday that it had decided to reduce US dollar participation in the composition of its international reserves from 80% to 62%, due to fears of volatility in the US currency caused by the global financila crisis. Continues here

Or in other words, when the dumbasses in suits bail on the dollar the bottom must be in. Short the Euro now!

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