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What is most interesting is the following. Remember the dollar drop just a few weeks ago? The explanation for that was... problems in the US subprime mortgage market!

Here you have it: one month those problems in the US subprime mortgage market cause dollar to drop, while Dow Jones shoots over the record 14000 points. A month later, the cause is the same, the effects are reversed... Amazing!

by das monde on Sat Aug 18th, 2007 at 11:12:25 AM EST
[ Parent ]
The first $ move was the eurozone banks bringing back what they had managed to sell of their ABS before the freeze...

You can sum it up by saying that the subprime crisis has "increased the volatility" of the currencies

Pierre

by Pierre on Sat Aug 18th, 2007 at 06:28:41 PM EST
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