Jay-Z Drops Dollar For Currency Rhyming With... "Pros"

First came Gisele, now Jigga: Bloomberg News reports that currency traders are selling dollars — as if they needed an excuse! — in response to a scene in Jay-Z's new video for the movie American Gangster in which he "thumbs through a wad of 500-Euro notes." (To be sure, emails a Fed watcher: "you really don't know from the video whether it's actually him thumbing thru the euros.") "The hip-hop maestro's public loss of confidence with the dollar is seen as having potentially larger ramifications the Brazilian supermodel's more explicit pronouncements last week, because he has shown in the past to be a proven mover of markets, as in the case of his song "Change Clothes" off 2003's Black Album," writes Bloomberg. "'He pledged in that song that he would no longer wear throwback jerseys, and just like that, the liquidity in the throwback jersey market completely dried up,' said one trader on condition of anonymity." And yeah I made that up. [Bloomberg]


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