“it’s a war out there, folks.”

but, but, against who?

“These numbers endanger the Dollar rally, which to date has been in some part an improvement in the trade gap (foreigners need more dollars)”

Last summer I speculated to a banker friend of mine that ‘well, all this talk of currency prices really is underpinned by the reality of trade’. He shrugged his shoulders and said, “well, 20 or so years ago, that was true but now there are huge piles of money just floating about looking for return”. I asked about a relative ration of ‘spec’ currency trades vs trade driven ones and he mused “20 or 30 to 1″.