Wachtel is the chief analyst for AVAFX, a leading online trading site for global currency, commodity, and stock index trading, at http://www.avafx.com/
Here's a key quote from his Seeking Alpha post:
The ramifications are chilling. The default of any of the PIIGS could well send borrowing rates for the others beyond affordable rates, effectively setting off a wave of defaults. Remember that the collapse of Lehman Brothers bank alone was enough to crash credit and asset markets in the fall of 2008. Imagine the panic caused by the collapse of Southern Europe.
That alone is enough to explain US dollar strength.
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