Australian Shares and ADRs Message Board

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Strategies & Market Trends : Australian Shares and ADRs

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To: James F. Hopkins who wrote (62)	7/27/1998 10:11:00 PM
From: Moominoid	Read Replies (1) of 96

David; Did you look at the chart, it really puzzles me. I did now - that's a great site! The two currencies (Yen AUD) lock into a lockstep (against the USD) just as the Asian crisis hits in July-Sep 1997. It's clear that all the concentration here on the gold price etc. is rubbish. Before the crisis the AUD was treated as a currency proxy for commodity prices by the exchange dealers. Their psychology has clearly suddenly switched to include the AUD as a Yen zone currency. This is exaggerated but that's pretty typical of financial markets which dominate any actual trade financing flows. After looking at this graph I might think of buying more US dollars. I'd been selling and buying the AUD thinking we were at the bottom. I don't think you need your more extreme suggestions to explain what is happening. David

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