"This is the biggest 7-day gain for the US Dollar since Black Wednesday in 1992 when George Soros "broke The Bank of England," crashing the pound and forcing Britain to withdraw from the European Exchange Rate Mechanism.
It is also on par with October 1978's surge in the dollar when the Fed clamped down hard on monetary policy - after the signing of the Full Employment and Balanced Growth Act, better known as the Humphrey-Hawkins Act, mandating The Fed to crack down on inflation (which Volcker then did by drastically raising rates) - sending the stock market into the infamous "October massacre.”
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It is also on par with October 1978's surge in the dollar when the Fed clamped down hard on monetary policy - after the signing of the Full Employment and Balanced Growth Act, better known as the Humphrey-Hawkins Act, mandating The Fed to crack down on inflation (which Volcker then did by drastically raising rates) - sending the stock market into the infamous "October massacre.”
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Click here to continue.
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