By Nico Isaac
Mon, 11 Oct 2010 18:30:00 ET
Bearish sentiment for the dollar sends a familiar message
It is definitely NOT easy being green these days, particularly when said color pertains to the US greenback. Right now, the dollar is treading the waters of an 8-1/2 month low against a basket of the world’s leading currencies.
As far as many mainstream experts can see, continuing to hold tight to a bullish case for the dollar is akin to the captain of the Titanic going down with his sinking ship. Consequently, in the week ending October 5, 2010, speculators boosted bets against the dollar to $30 billion — yes, billion — the largest shorting of the buck since June 2008, according to the October 6 Commodity Futures Trading Commission report.
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Tags: Economy, Federal Reserve, Media, News Item
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