Here’s some chart porn to commemorate Tuesday’s special FX moves:

All of which is having the following effect on commodities:

Nice.

Of course, there’s one G7 currency you can trust to perform even more badly than the US dollar — the GBK:

We like the way Dennis Gartman explained things on Monday:

… if there is one currency left in the world against which the US$ is strong and may get stronger it is the British Pound Sterling. Not wishing to be too harsh, Sterling has no friends these days as it weakens vs. the US dollar, vs. all of its Commonwealth members and vs. the EUR and even the Yen. The government there is foundering.

Related links:
Intervene or do not intervene, there is no try – FT Alphaville
Sterling declines after inflation hits 5-year low – FT

This entry was posted by Izabella Kaminska on Tuesday, October 13th, 2009 at 12:34 and is filed under Capital markets, Commodities. Tagged with currencies, Dollar, forex, gold, silver, sterling. Edit this entry.