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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: elmatador who wrote (7526)8/22/2001 9:18:36 AM
From: KyrosL  Read Replies (1) of 74559
 
I think the US wants the dollar to go down in an orderly fashion. A slow and steady fall in the dollar is the only way to fix the current account deficit without precipitating at least a short term financial catastrophe.

The problem is that everybody can now hedge their portfolio almost instantly. Just switch from US funds to Euro funds. Or just buy some foreign exchange futures or options -- like Jay just did. A slow and steady fall is almost impossible to engineer.
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