Good On the Dollar

Well, this is something we haven’t exactly seen in a while. The US dollar is making good on positive fundamental developments; granted it’s being helped along a bit by ongoing worries in Greece.

In case you missed it, another credit rating downgrade of Greece has pressured its bonds, the spread between 10-year Greece and German government bonds has widen to 269 basis points. We haven’t seen anything that wide since April ... and the record during the euro’s existence sits a tad bit north of 300 basis points.