Wednesday, December 28, 2011

Dollar goes back over 80 on the index as the Euro collapses below 130

In an interesting turn of events this morning in the markets, the Euro out of nowhere suddenly collapsed and fell more than 100 bps to 129.58 while the dollar climbed more than .58 on the index to 80.39.

In pre-market news, the Euro was actually strengthening as Italy was able to manufacture a bond sale on their 6-month instruments, but that appears to have been short-lived as the US markets reversed their course and are selling in the red, while the currency climbs towards 81.

Gold, along with most commodities, has experienced a selloff of nearly $20, and oil is down more than $1 to $100.20.


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