Tuesday, August 01, 2006

the almighty worth less dollar

My currency trading practice account has been a disaster this year. I was down as much as 72%. However, my recent short against the yen has given me hope of a comeback. Today's news was that the dollar fell on the strongest inflation numbers in 11 years, despite the fact that inflation could prompt the Fed to raise rates again. What the market is saying, is that the Fed has already lost the short-term battle with inflation, even if they do raise rates. My account has recovered 10% to -62% since 7/19.

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