What follows is Part I of a focus on currencies including the U.S. dollar index, the yen, the euro, the British pound, and the Canadian dollar. There is a special emphasis on the yen. This analysis covers five factors: Technical analysis Politics Commitment of traders (speculation vs. hedging) of currency futures The carry trade Fundamentals Let's kick ...read more

Financial markets owe much to illusion. Absolute values don't exist. Prices are relative and changing. We create our own references. Gold-topaper currency conversion served that purpose. Yet, the US snookered the world into broad acceptance of the dollar standard after severing its relationship to a tangible object. Until 1971, a ...read more