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US Dollar Falls To Lowest Level Since January 2015 On Depressing Jackson Hole Speakers (10Y-2Y Slope Declines To 82.82 BPS)

This is a syndicated repost published with the permission of Snake Hole Lounge. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

The monetary retreat at Jackson Hole, Wyoming today was a dovefest. ECB’s Draghi and Bank of Japan’s Kuroda both said that accomodative monetary policy will continue.

And Yellen said very little of substance with no hint of tightening.

The reaction? The US Dollar fell to its lowest level since January 2015.

usdolla2015

And the US Treasury 10 year – 2 year curve slope fell to 82.82 basis points.

102jh

Yes, optimism at Jackson Hole was in short supply, but hot air was everywhere.

Here are Janet Yellen and Mario Draghi singing “My Kuroda” with the Bank of Japan President. 

draghi-yellen-kuroda

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