Comments on: U.S. Dollar Strength or Oil Weakness? http://www.dailyreckoning.com.au/us-dollar-8/2008/08/14/ An independent perspective on the Australian and global investment markets Sat, 21 Nov 2009 17:27:32 -0600 http://wordpress.org/?v=2.8 hourly 1 By: justin http://www.dailyreckoning.com.au/us-dollar-8/2008/08/14/comment-page-1/#comment-35263 justin Fri, 15 Aug 2008 04:21:47 +0000 http://www.dailyreckoning.com.au/?p=3322#comment-35263 Seems to me the strength in the USD is due to the sudden weakness in the Yen, Euro, AUD, NZD, Pound Sterling, Korean Won, Canadian Dollar....... Kind of convenient that so many currencies tank all at once. I read that the Reserve Bank recently sold hundreds of millions of AUD. Competitive currency devaluations anyone? Seems to me the strength in the USD is due to the sudden weakness in the Yen, Euro, AUD, NZD, Pound Sterling, Korean Won, Canadian Dollar....... Kind of convenient that so many currencies tank all at once.

I read that the Reserve Bank recently sold hundreds of millions of AUD. Competitive currency devaluations anyone?

]]> By: DailyReader http://www.dailyreckoning.com.au/us-dollar-8/2008/08/14/comment-page-1/#comment-35144 DailyReader Thu, 14 Aug 2008 11:55:40 +0000 http://www.dailyreckoning.com.au/?p=3322#comment-35144 I don't think the one percent $4 rule works on the way down, if something goes from $40 to $50 it's a 25% increase, yet it only takes a 20% decrease from $50 to bring it back to $40. With that in mind, "Khelil's formula" comes quite close to where the price of oil is today. I don't think the one percent $4 rule works on the way down, if something goes from $40 to $50 it's a 25% increase, yet it only takes a 20% decrease from $50 to bring it back to $40. With that in mind, "Khelil's formula" comes quite close to where the price of oil is today.

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