Danger signs for US dollar

[Doug Henwood]

For what it's worth, today's daily from Ed Hyman - Wall Street's 
favorite economist, nicknamed "Newsboy" by my late friend John Liscio 
for his habit of clipping headlines and writing comments next to 
them, often pasting them in columns labeled "good news" and "bad 
news" - is about this. Hyman wonders if the weakness of the U.S. 
stock market (it's the weakest major market over the last two months) 
is a sign of a brewing dollar crisis. He also points to "breakdown" 
in the dollar charts, which is important because so many currency 
portfolios are managed based on technical signals. Hyman can change 
his opinion 180 degrees from one week to the next, but his value is 
that he's the embodiment of conventional wisdom, so if he's worried, 
dollar anxiety may have spread beyond the usual gang of bears.

Doug