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Message: China

China

posted on Jan 22, 2010 09:19AM

Could China be behind this latest usd rally?

Two key events orchestrated by the Chinese seems to have lit the fuse. First was when they said the usd has bottomed a few weeks ago, and second China looking to curb speculation.

As Dan Norcini pointed out the big speculators are betting against the usd. So one would have to assume the Chinese are trying their best to prop up their biggest asset namely the usd. And it also helps with their exports.

Other than that I don't see what else could be driving the usd higher. Also I've noticed the invisible buyer in gold seems to have left--for now.

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