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  • Fed Raises Discount Rate!

    In This Issue..

    * Rate hike sends currencies to the woodshed...
    * Gold recovers then sells off!
    * The tale of two Americas...
    * Weekly Jobless Claims Jump!

    Good day... And a Happy Friday to one and all! A Fantastico Friday, if... You were looking for the Fed to raise the Discount Rate yesterday afternoon! If you weren't... Like me... Well then, we're going to have to work at making this a Fantastico Friday!

    So... Front and Center this morning... I'm sure you all heard that the Fed, in a surprise move, raised their discount rate 1/4 point to .75%... This really put the currency guys in a tizzy, and they began to earnestly buy dollars the rest of the day... They went at it hard, and didn't stop until the euro was sitting around 1.3475......