wmeubank@ocp.kcmo.com
COMMODITY INSIGHT
152 Ennis Lake Road, Ennis, Montana
(October 20, 1997) CURRENCIES: My work suggests that the Canadian Dollar and the British Pound should trend higher into early 1998. I will view hard breaks as a buying opportunity for both currencies. On Thursday, while most markets were dropping hard following the lead of the Dow Jones, the Commodity Insight website bought one (1) December Canadian Dollar at 0.7238. On Friday, when the Dow fell even further, the we bought one (1) December British Pound at 1.6100.
Despite the fact that my website bought both the Canuck and the Brit this week, neither currency ended the week on a positive note. But then again, most markets ended the week poorly. The Canuck and the Brit are on the verge of becoming two of the strongest currencies on the board. Hard breaks for either should be viewed as a buying opportunity.
Jerry F.Welch
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