Friday, October 24, 2008

Dollar Yen

I read this article and I am a little perplexed.  Considering all the circumstances, how could the US dollar be a "safe-haven"?Maybe that is why I never wanted to be an economist or investment banker.     I say.....  let's go back to the barter system.  

"The dollar and yen -- considered among the safer currencies -- surged to multi year highs as investors repatriated investors and looked for shelter......

" 'Its extreme risk aversion and deleveraging of risky assets ... and we are seeing safe-haven flows into dollar and yen,' said Lee Hardman, currency economist at BTM-UFJ."

                                                

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