Dennis Gartman: Again, The Dollar Is At The 'Head Of The Table'

Analyst Dennis Gartman commented on the U.S. dollar versus the Euro on Friday and noted that the dollar had regained its "seat at the head of the table." After observing the reversal in the market, Gartman wrote, "We are angry with ourselves for not having stronger urged selling the EUR's strength yesterday as it approached and through 1.1000, for we had discussed that propensity many times earlier this week and late last, and yet we failed to act upon that intention."

Source: finviz.com and The Gartman Letter Gartman speculated that the cause of the reversal could have been news out of Greece about declining bank deposits and the potential for Greece to leave the EU. Regarding the Greek situation, the analyst concluded, "People and businesses are sending their money anywhere; they are simply getting it out of the country as they lose faith in the institutions they once really have very little faith in to begin with. Now they've lost nearly all faith and they are moving to get their money out. This, we fear, is only now reaching a fevered pitch and it may grow much, more worse. Panic is in the air."