GoldMoney Alert – 10 May 2009

The US Dollar Breaks Down

Last week the US dollar dropped 2.7% against both the euro and the Swiss franc. The dollar fell 2.4% against the basket of currencies comprising the US Dollar Index.  The dollar has been in a bear market rally since last July. Last week’s decline is further evidence that this bear market rally has ended, which is clear from the following chart.

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GoldMoney Alert – 10 May 2009

http://goldmoney.com/en/commentary/2009-05-10.html