$US Dollar$, Up up and away!
The US dollar just surpassed the 82 mark today (3.24.10), and in doing so it smashed through the recent high of ~81.2 which was reached on 2.18.10. More importantly, the USD is now at a 10 month high and looks to be resuming it's upward march towards ~90 that was reached during the spring 2009 stock market lows.
What does this mean for the general stock market you ask? I haven't the slightest clue Fools. However, it sure doesn't make me feel all warm and fuzzy inside when I think of commodities/metals/etc.
Run for the hills commodity lovers, the end is near!
Ok ok, I'm kidding. In fact I own several commodities and related companies and plan to hold them for the long term. However, I truly believe, and have believed, that this USD rally will continue to have some legs in the near term. Yes, the USD is trash and isn't worth the paper it is written on. However, currencies are all reletive friends. And let's be honest with ourselves, we are by no means the country with the worst financial situation currently. Have you seen the Eurozone lately? Greece is getting slaughtered, Portugal's credit rate was cut, the problems there are seemingly endless. That is not to say the USD will rally forever, eventually our debt problems will catch up with us and push the USD back down to where it rightfully belongs.
But for now Fools, the USD is going up up and away! Let's enjoy it while we can, for surely it won't last long. Let the good times keep on rolling!