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DOLLAR DESTRUCTION: U.S. currency hits 15-month low
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Wednesday, November 11, 2009
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By Daily Crux Editor Justin Brill:

The latest on the biggest story in the world right now: The U.S. dollar just broke through downside resistance to reach a fresh 15-month low. Gold rose to a fresh high as a result.

As usual, the lower dollar means higher stock prices this morning. The FT reports:

"As the greenback dropped below the 75-point level on a trade-weighted basis, US equity futures spiked, suggesting the S&P 500 would begin trading above its previous closing high for 2009 of 1,097.91."

Read full article...

More on the U.S. dollar:

Bond King Gross: No rally for the dollar

The White House's secret plan for the dollar

IMF: Dollar carry trade is risking global collapse

Topics: US dollar | Gold | Cruxallaneous
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