The Dollar's Dead Cat Bounce

Recent action in the foreign exchange markets suggests that the dollar's much-hyped turnaround may have been a flash in the pan. Related movements in key commodities, particularly gold and oil, seem to support this conclusion. If I am correct in reading these signals, then the risk of a near-term slump in the dollar is high. As such, those moving cautiously with regard to overseas investments need to pick up the pace -- fast.

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