Dolar plunges to 19 month low and is now hovering at $1.31, last seen in April 2005, before market started to take notice of US rate hikes. Analysts expect dollar to decline to $1.35 in coming weeks. The cause for decline is the poor shape of US economy thus increasing pressure on FED to cut rates. Futures market expects rate cuts to 4.75 next year.
I was expecting this rally but I slept over it as I forgot to put auto triggers for this at $1.29 (the ceiling at which eurodollar has kept bouncing off this year).
