Yesterday, both the European Central Bank (ECB) and the Bank of the UK cut their benchmark interest rates to record lows. This is especially incredible in the case of the UK, whose Central Bank over 300 years old! You can see from the following chart that both Central Banks have more than made up fo...

Filed under: Forecasts, Bad news, Commodities, Oil, Federal Reserve, Recession The dollar plunged Friday after Morgan Stanley said oil prices could rise to $150 and after data indicated the U.S. employment rate surged to 5.5% in May. The dollar fell one cent versus the euro to $1.5694 and about thre...

The British pound deals with the "line in the sand" around 1.97ish. So far it's bounced off of it. But notice that all of the recent peaks have been lower. So what seems to be a near term victory for the pound may not be so pretty the next time it deals with the black support level below around 1.97...