Archive for September, 2008

Reversal of Fortunes 3

September 11, 2008

What a difference a year makes!
The USD has rebounded strongly against other major currencies while high-yield darlings like the AUD and Kiwi dollar have taken a beating.
These are the published FX rates as of Sep 11 2008. Compare the difference from a year ago.

Implications
1) SGD has strengthened considerably against commodity-backed currencies like the Aussie and Kiwi. [...]