Here’s Marc Ostwald, strategist at Monument Securities on the new Fed facilities, on the matter:

 This may be another special acronymed programme, but  to you and me this is another $800Bn of quantitative easing. Watch the US monetary base continue to explode, and it’s another $800Bn contribution to US dollar degradation …. 

And here’s that dollar reaction:

This entry was posted by Izabella Kaminska on Tuesday, November 25th, 2008 at 14:33 and is filed under Capital markets. Tagged with Dollar. Edit this entry.