Currency comment 3/9

During Thursday’s session we saw the U.S. dollar, U.S. stock indicies and U.S. government debt decline.  It appeared traders were clearing the table before Friday’s anticipated fireworks . With the Feb set to increase short term interest rates next week (a move that has been telegraphed to the world for weeks) there is hesitation on the part of traders to increase their positions in anything financial.

The big question is not the news but what the market reaction to the news will be.  We will see the answer on Friday A.M.  An old saying is “There are old traders and there are bold traders. However, there are very few old bold traders”.