, plenty of aberrations exist in valuations from cash products to option value and it's important to remember this as we wait for the stocks to decouple from moves in currency. Basically you have every single money manager and market maker watching the inter day move in the Dollar and like a game of musical chairs there will be someone left standing when the music stops.
Usually that someone are the new traders who have not seen a decouple take place, and its interesting to watch. I write about this because we are about to go into important earnings season and the market will begin to look at the consumer via retail sales, so just a warning and a reminder.
World stock markets edged higher but the dollar's slide continued Thursday after the European Central Bank kept its main interest unchanged at 1 percent and its president warned of the economic impact of excess volatility in the currency markets. The euro struck a fresh eight-month high of $1.4028 as ECB chief Jean-Claude Trichet said disorderly moves in foreign exchange markets have adverse implications for growth and that he was looking to discuss currencies at this weekend's meetings of central bankers and finance ministers in Washington.
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