Dollar Plunges

Bloomberg reports:
“The dollar declined to the lowest level versus the euro since January as falling currency and stock volatility spurred speculation investors will seek higher- yielding assets.

The U.S. currency’s decline accelerated after weakening beyond the level where it traded in March after the Federal Reserve announced its plan to buy up to $300 billion in Treasuries. New Zealand’s and Canada’s dollars gained versus the U.S. currency as crude oil prices rose above $60 a barrel, encouraging demand for currencies of commodity producers.”

I know a weak dollar sounds like it’s bad news, but it’s not. This is exactly what I said would happen and it’s great news for the types of stocks we’ve been recommending.

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