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Inflation Scorecard: Swissie/euro Vs. Gold

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Real-time Monetary Inflation (last 12 months): -0.3%

The European common currency found an ally this week in its battle against bullion. Both the euro and the Swiss franc appreciated vs. gold—the euro by 0.6 percent and the franc by 0.1 percent. Other reserve currencies lost ground to gold, but bullion scored new records only against the U.S. dollar. Sterling eased 0.4 percent and the yen yielded 0.2 percent this week.


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Truly an insane world, where Ireland is on the cusp of default or another massive bailout from the ECB, not to mention all the other PIIGS, and the euro strengthens against a currency with no liabilities. Crazy. Oh well, all's well that ends well.

IMO it is in the interests of the US, Japan, China and the UK to have a high Euro.

A high Euro removes the EZ from the marketplace and in a shrinking world of lower demand, excess capacity it is good to have a lower valued currency. The Euro is the fall guy so to speak and it will keep rising all the time the others want it to.

If the lid blows off the PIIGS situation again the Euro may well drop again. But in the meantime, its all contained and the Euro is the darling of FOREX despite the ongoing awful news--especially today's report from Germany where their output is the worst since January and falling.

Edited by Realistbear
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  • 420 Brexit, House prices and Summer 2020

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      • down 5% +
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