From the link that I posted....
Foreign exchange market talk is once again focusing on the dollar's downside, particularly against the yen.
"If we go through 126.80 yen, it could get very messy," said the chief dealer at a German bank.
And others are even more bearish, with GAIN's Mr. Riley suggesting, "I think the yen has room to go down to 125.50," adding that such a level could bring about "official Japanese (intervention)."
Lately, mixed data and corporate results have raised doubts over the attractiveness of U.S. financial assets, which has helped push the dollar down to multi-month lows against its major counterparts.
But there isn't much enthusiasm for the dollar's rivals.
"The market's clearly bearish on the dollar...but there's not much positive elsewhere," said Mitul Kotecha, head of global currency strategy at Credit Agricole Indosuez.
The argument for the strong dollar has been it's the safe haven, and since the rest of the currencies are weak, it's basically *the* currency, that will probably continue...I'm not exactly sure what "intervention" card Japan would play...we need JP in here. |
