Funds panicking out of the Euro are not fleeing into the dollar, rather into the CHF.
The CHF has just hit a new all-time high vs the USD at 1.2079, up 100 basis points from today's open.
Gold and silver are receiving some safe haven flows as well this morning. Before this crisis is over, look for the precious metals to be considered the ONLY safe haven currencies.
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| Even With the Euro in Full Crisis Mode, the Dollar Wants to Head Below 75 |
Can you imagine what the dollar (and in turn US food, gasoline, and silver prices) will look like when California, Illinois, and New Jersey's debt crises are appreciated like the PIIGS'?
