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COMMODITY INSIGHT
152 Ennis Lake Road, Ennis, Montana
(November 2, 1997) CURRENCIES: While the world's equity markets were collapsing this week, the currency markets were flying all over the place. Trading the currencies this past week was similar to trading equities, not for the feint of heart!
With equities falling apart, the European currencies rose sharply led by the British Pound. The Brit, by the way, was one of the currencies towards which I was most bullish. Those following the advice I offered regarding the British Pound did quite well.
On the other hand, I was also bullish towards the Canadian Dollar. Those that followed the advice I offered regarding that currency did quite poorly. The Canadian dropped sharply this week along with the U.S. Dollar. It has been a wild and crazy week for the currencies.
Jerry F. Welch
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