This past Friday marked what we believe is a cyclical turning point in the direction of the U.S. Dollar. The U.S. dollar on Friday broke out of its four month trading range and rallied sharply against the euro, yen and other international currencies. The sharp reversal in the six year downtrend in the U.S. dollar reflects the increasing weakness in overseas economies which we catalogued in our just released comment “International Economics: The Virus Has Spread”, August 6, 2008. We commented on the rapid deterioration in Western European and Japanese economies which threaten ... Log in to view full article.