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Two Ways To Play: Teaming Up Against the Euro


Strengthen your portfolio in good times and bad.

According to Bloomberg, the dollar and yen both appreciated against the euro, rising to the highest levels in about a year. The dollar rose to 1.3945 after touching $1.3882, the strongest level since September 18, 2007. The yen jumped 1.2% to 148.88 per euro, after touching 147.54, the strongest in more than two years.

Analysts attribute the move in both the yen and dollar to a perception that global growth is slowing.

Goldman Sachs market strategist Themos Fiotakis wrote in a note to clients that drivers of risk-sentiment have shifted with concerns of areas outside the U.S. being key.

From the Bull Pen: Amazing reversal in the dollar, but it may be reaching oversold conditions. Those believing it will continue the upward trend can play the upside using the dollar bullish fund (UUP) on a pullback towards $24.

From the Bear Cave: We've talked about the appreciation in the dollar being bad news for U.S. equities. Bears can consider a downside play in the Russell 2000 small caps ETF (IWM) if the stock rallies back to $75.
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No positions in stocks mentioned.

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