If you wanted to know what would happen if the world shifted from the dollar as the reserve currency. You got a sneak peak of it today. Timmy, either wasn't thinking or maybe knows a lot more then we know and accidentally spilled the beans, but in a response to a question about China's desire for a currency by the IMF. he said “designed to increase the use of the IMF’s special drawing rights. And we’re actually quite open to that.” That sent the dollar tumbling, but he was able to tell everyone "I'm just messing with you" and the dollar went back to normal.
But the EUR/
USD does seem to be forming a Bull Flag and if it is to break out of that flag it would be a strong move for the EUR and hurt the dollar.
GDP numbers come out
tomorrow, if they are like Home Sales and Durable Goods the GDP should be +15.00%.
