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Strategies & Market Trends : Currencies and the Global Capital Markets
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To: Hawkmoon who wrote (2753)12/28/2000 3:11:35 PM
From: Thomas M.  Read Replies (2) of 3536
 
I only have recollections of failed intervention after failed intervention

Nope. For a long time, the ECB head and others were publicly stating that there was no need for interventions. They said the market would find its way. Then, when they finally did intervene, it was a very weak effort. As for why they did this, I don't know. It could be ineptitude, or their belief that a weak currency would boost their economies (always a loser's game).

Tom
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