1 1 1

This is just a small observation. As the dollar is loosing value three different currency pairs are gradually moving to parity---the AUDUSD, USDCAD, and USDCHF.

The closest one is the Frank. It closed at 1.008 this week, just shy from the parity mark.

Then there are the commodity currencies, that have been riding the recovery wave as a couple of easy going surfer dudes. The Aussie and the loonie are trading respectively at 1/0.922 and and 1.052 to the greenback, nearing this point where all the dollars in the world will come together as equal and throw a big party to celebrate their colonial heritage.

It seems that these three 1s will be reached at the same time, so when this happens, close your eyes and make a wish. What happens next, however, is anybody's guess. All this talk of how the cheap dollar is hurting the economies of all other countries but the US whispers of a big massive coordinated intervention. It will be a game of chicken, and is there a bigger chicken then the ECB?

And to avoid making my case for ECB intervention, I am just posting a link to an FT article that does it for me.