Dollar Rises Against Major Currencies (oh, really??? hmmmm)

[NVMojo]

NEW YORK (AP) - The dollar rose against most major currencies Tuesday even after U.S. data showed inflation at the wholesale level slowing in May.

The euro bought $1.2541 in afternoon New York trading, down from $1.2603 late Monday in New York. The British pound dipped to $1.8335 from $1.8446.

The dollar strengthened against the Japanese currency, climbing to 115.27 yen from 114.20 yen.

The U.S. currency has gained support recently from speculation that the Federal Reserve likely will raise interest rates again. A string of increases by the Fed has bolstered the dollar.

more...

http://www.lasvegassun.com/sunbin/stories/invest-corp/2006/jun/13/061306802.html

[BeFree]

1. Well sure

Given that extra billions upon billions of American gasoline dollars have been dumped on the markets the last year, everyone else is holding dollars, and they'd like for their dollars to not lose any value.

The whole thing has been desinged as a way to keep oil from being priced in euros.

[Greyhound]

2. Bernanke is playing a very dangerous game and it will bite all of us

in the ass if we're not careful. Dropping non-binding rate bombs will cause the temporary bump in the dollar, allowing "the people that matter" to convert into favored currencies and tangibles with a stronger position.