1) British Pound
2) Euro
3) Yen
4) Gold (using GLD as proxy)
Each tells an interesting story. In Europe, where the Eurozone is in the midst of a depression and the threat of money-printing has not yet been implemented, the currency is getting stronger against the dollar. Conversely, the pound and the yen speak to a strengthening dollar (as those countries have gotten more serious about debasement), which is kind of the opposite of what the U.S. wants. And, gold, well, people just don't like it right now and the weak hands (and probably some strong ones as well) are being flushed out. Somehow people think that the liquidity explosion the world over is going to slow down here. I think that is a bad assumption.
