Neil Finn of Crowded House wrote a song, "Don't Dream It's Over", that would be a fitting motto for the huge sums of money flowing into euro and crude futures.
This euro euphoria is destroying all currencies in its path.
To put it plainly, there is no fear of a stronger US dollar derailing resumption of the pre-great recession era trading arb of selling the dollar and buying commodities, specifically crude and gold.
There are very few contrarians willing to jump in front of this train by going short the euro, crude or gold. And with two more months of the US Treasury increasing bond supply, there are few fundamental arguments left for a strengthening US dollar. Also, Ben Bernanke has confirmed that there will be no increasing of Fed Fund interest rates anytime in the near future.
There will be occasional pull backs as high frequency traders move in and out of the market to capture profits or reverse commodity short positions to long. Take advantage of these down moves and "Don't Dream It's Over."
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