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Politics : Idea Of The Day
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To: Jerry Olson who wrote (31778)6/8/2000 10:00:00 AM
From: IQBAL LATIF  Read Replies (2) of 50167
 
Go long Euro and also long DCX, Euro will become attractive and so would Eurpoean markets.. I think the firm approach of European Central Bank would be welcome by the markets, they were bit concerned about the commitment of the central bankers on demands emanating from Germany, I think it is always good to keep a tight control on insipient inflation and help Euro without interveening, the bankers realise that if fundamentals and commitment to non-inflationary growth reamins beyond question the markets reward such commitment and such nations, UK has been aggresively rising rates but FTSE stood solidly above 6000 although giving some ground to as low as 5500, in my opinion now adays this .5% does not have the kind of impact the way it use to be in 80's or early nineties, it is more psychological.. Nowadays most of the companies manage risk with absolute iron fist that risk includes interest rates and exchange rates. I would assume that it is the aggregate demand that slows down and on that front this present rate hike may not do much damage as this country where I sit has seen rates as high as 11% in 1992-94 years, for them the lower Euro since last few months had helped their exports but in my opinion central banks picked the time for aggressive stance to avoid importing inflation as a result of weaker Euro..
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