Looks like we’re undoing much of the damage done yesterday to the strong dollar/weak commodity trend of recent weeks. Oil is down more than $3, probing below 118.00 and EUR/USD is making a second foray below the 1.4800 handle this morning. Stocks are up nearly 200 points as news that Lehman may be in play and that St- Warren thinks there are some bargains to be had on Wall Street (and beyond) all helping.
With oil down $3 and the US still putting missile defense components in Poland and Russia still slow to pull out of Georgia, yesterday’s” growing tensions” storyline was just another crock to explain something for which reporters had no ready answer…
