On Tuesday the dollar fell against European currencies, in fact the British pound rose above $2 for the first time in 15 years. Not since George Soros was moving world currency markets like chess pieces have we seen such a stunning move in the pound. Now, why should you care?
Eric Bolling says weak dollar trades are still in play. He explains the weak dollar environment provides a tail wind for companies that have a large foreign exposure, such as Coca-Cola (KO),Altria (MO),McDonald’s (MCD) and Hewlett Packard (HPQ). (That's because as they repatriate profits, they receive more dollars.)
Guy Adami says of those 4 companies, McDonald’s is most appealing to him.
Jeff Macke adds as long as things aren’t catastrophic for the dollar all these names are good to own.
On APR 17, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders. Strazzini Owns (CAH), (EWG), (IBM), (WMT), (YHOO) (USG); Bolling Owns (NMX), Gold, Silver, Corn, Bolling Is Short Soybeans