Though I’m not a big fan of Warren Buffet, one does need to pay heed when he speaks. Earlier, Bloomberg reported that Buffett told a conference that he is “buying stocks as we speak” and that he is getting a lot of value. That seems to coincide with the launch to the topside pretty well with EUR/USD, so it looks as though the stock and currency markets are correlating once again.
The equity rally is fading faster than the currency rally, however. The S&P is only up 0.25% on the day, just above the 1050 level that many had targeted as a year-end target. EUR/USD trades at 1.4663.
