Market Comments

Let’s look at what the euro has done against the US dollar compared to what the Chinese currency has done since the last dollar bear market began. Below is a percent change chart with the starting date June 1, 2002. As you can see, the euro (purple) has gained 54% since that time; while the juggernaut of global growth from China—the yuan—has moved about 0% since that time. Thus, the euro has appreciated about 54% against the Chinese currency too.