Obama's Dollar Diss & EU Market Manipulation

In the wee hours of a solemn Monday morning as I scribbled my thoughts for followers, sometime around 4 AM EDT, I noted a sharp drop in the dollar index. As I scrambled to figure out what had happened to cause the counterintuitive decline, I found what stank of European desperation. In fact, I noted that a series of public statements over the past couple trading days had illustrated that the Europeans are desperate to prop up the euro against a strengthening dollar. As Greece appears headed for a nightmarish scenario for the eurozone, it shows just how concerning the situation really is. However, no matter how much noise is mixed into the trading, the key catalyst for dollar gains remains and it will drive the dollar higher. See my report on the dollar here. Article interests PowerShares DB US Dollar Bullish (NYSE: UUP), CurrencyShares Euro Trust (NYSE: FXE), ProShares UltraShort Euro (NYSE: EUO), Global X FTSE Greece 20 (NYSE: GREK), SPDR S&P 500 (NYSE: SPY), PowerShares DB US Dollar Bearish (NYSE: UDN) and iShares Euro ETF (NYSE: EURS).

DISCLOSURE: Kaminis is long UUP. Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.