To the left is the dollar/Canadian-dollar pair (the CDZ07 futures contract)... simply amazing that we're seeing levels not since the early days of free floating currencies back in 1971. We're talking the days of Nixon and Trudeau.Last weekend there was an interesting article in Canada's Globe and Mail that broached the possibility of a reverse Plaza Accord to stabilize the dollar. Plaza dates back to 1985 and is further described in the Globe and Mail article. I would imagine that a reversal of the Plaza Accord would be difficult if not impossible given that 2007 is quite different from '85. Just for starters, reversing the accord would have to involve corralling Russia, China and even the Saudis into such an agreement. You might as well corral cats.
This one is of the dollar/euro pair (EUZ07 futures). Also pretty darned amazing. All time highs here.This along with China keeping its currency artificially low is no doubt making the Europeans quite dissatisfied as the strong euro makes European good less attractive in a variety of markets.
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