EuroDollar Target Reached...

1.21 eurodollar trades and proceeds to go a little higher on the day as well... I must admit it all came to pass a little sooner than I thought, but it would seem too many people were still harboring dreamy hopes of a strong dollar into 2006... Yes, I can feel their pain... not! Overall, my bearish call on the $ was vindicated to the tune of a 3.25% gain, which, in the world of FX, is quite a move for the world's two major currencies within the span of just eight weeks. Coupled with the fact that my pre-X-mas target of 1,275 in the SPX was also reached on time, I feel confident that my other "predictions" for 2006 would also materialize before long, especially the one about Brazil winning the World Cup. Sorry England fans -- one boorish yob Rooney doesn't a winning team make.