Bradley Associates - Us Dollar Still Associated With Safety.

As the fear of Europe-wide contagion from the Greek debt crisis continues to grow

, Bradley Associates strategists are thought to be ramping up efforts to warn its clients of the dangers of seeking shelter from the ensuing turmoil in currency and equity markets in the arms of the US dollar.

They have cautioned that although the dollar has rallied significantly over the last 4 months, it remains representative of a country that is still dealing with a record deficit of its own and a monetary policy based on ultra-low interest rates.

One of the Bradley Associates sources reiterated the firms commitment to steering clients towards gold as the ultimate safe-haven and cited the metals resilience in the face of selling pressure in equities, currencies and commodities.

The price of gold has held firmly and is approaching the psychological $1200 level even as the dollar tracks higher against other currencies. Gold traditionally has an inverse relationship to the US dollar but, in recent weeks, it has decoupled from that correlation and has been rising in tandem with the greenback. This is in stark contrast to the metals price action after the collapse of Lehman Brothers in September 2008 when investors sold gold to hold the dollar.

Bradley Associates suggested that the global economic recovery was still fragile and warned that further contagion from the Greek crisis could result in greater turmoil.

by:Sarah Taylor

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