23.02.2009 - Shipping index rise signals currency gains
From Etaiwannews.com: Shipping costs have more than doubled this year, so it may be time to buy kroner, Aussies and loonies.The 147 percent jump in ocean-transport prices is evidence that China's US$580 billion stimulus plan will lift raw materials, said Ihab Salib, who oversees US$3 billion at Federated Investments Inc. in Pittsburgh. That would benefit countries exporting them, so Salib is "actively trading" Norway's krone and Australian and Canadian dollars, nicknamed Aussies and loonies..... Full Article: Source
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