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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Henry Volquardsen who wrote (1764)	6/14/1999 5:39:00 AM
From: Step1	Read Replies (3) of 3536

Henry and others: Why does BOJ need to intervene lately? I guess my question is especially for you Henry, since you had a couple of posts about rumors that another hedge fund was in trouble last Fri, and the yen carry trade was probably involved again or so went the rumor anyway. After a rather intermediate period of calm in the forex between the Yen/USD pair, why does the BOJ have to come out and jaw-bone the "ideal" rate, reassert that the yen will not be left to strengthen etc... Seems the move up to 118 was fairly sudden and while the SPX and DOW were both down, it was not the first 100 + pts drop for the Dow in the last 2 or 3 weeks and the SPX is still in its 1280-1320 range. With the threat of US interest rates going up (which should put pressure on the yen down) it seem something is not going the way it should... Any comments? sg

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