--Simon Gruber (Die Hard: With a Vengeance)
Since markets began sniffing out QE2 last summer, the US dollar has been declining. The dollar index (USD) has lost about 20% of its value since last June.
The USD is now sitting on support marked by a gentle sloping multi-year uptrend. A bounce around these levels would not be surprising.
position in TLT
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
1 comment:
Since Bernanke started as Federal Reserve Chairman on 2/1/06, the US dollar index is down 13.8%.
The US dollar index measures the dollar value vs weighted basket of fiat currencies of key trading partners.
The index is composed of 58% Euro, 14% Japanese Yen, 12% British Pound, 9% Canadian dollar, 4% Swedish Krona and 4% Swiss Franc.
Gold measured in dollars is 151% higher since the same
date.
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