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Pastimes : All Clowns Must Be Destroyed
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To: BGR who wrote (12742)2/24/2000 7:38:00 PM
From: pater tenebrarum  Read Replies (1) of 42523
 
i think you misunderstand something here...importers and exporters (the big ones anyway) have big foreign exchange departments...they trade currencies according to their own current perceptions of same. e.g. while the Yen was rising, Japanese exporters bought every dip, because they feared it would go even higher. that doesn't mean they are right.
btw, the Yen is a good example to illustrate that currency movements are sometimes completely unrelated to economic fundamentals and the movements of financial markets related to them. when the Japanese bubble burst, the Yen kept on rising sharply in spite of both the stock market and the economy going down the tubes.
also during the first accelerated bull market leg from '84 to '87, the U.S. dollar was plunging...and the trade deficit still managed to reach record highs at the time.
in other words, supporting evidence for your argument is non-existent.
i actually think if anything, the NAZ bubble supports the dollar now, not the dollar the NAZ bubble. the tail is wagging the dog.
it's even possible that bonds and notes were sold today to re-allocate funds from bonds to stocks according to one of those rocket scientist models that regularly bring the financial system to it's knees every few years...
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