A Run on Central Banks?

by: Steve Waldman posted on: May 22, 2008

When I see what commodity prices are doing, I don't think "low interest rates" or "skyrocketing demand." I think about a loss of confidence.

There is that old saw about gold, that it is the only money that is no one's liability. Wheat is no one's liability, and neither is corn. Oil is no one's liability.

GBPJPY

GBP JPY is in a consolidation after the last bullish movement. The volatility decreases. Bollinger bands are tightened indicating a bullish pressure on GBP JPY. The consolidation should continue. The price should find a resistance below 206.60. If the resistance is broken then the target will be 208.50.

GBPJPY

USDJPY