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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (33299)	5/8/2003 10:30:56 PM
From: elmatador	Read Replies (1) of 74559

Jay/Yiwu: As the US try to cheapen the USD by printing more of it, Japan's Yen starts raising. Japan try to cheapens its currecny and spends USD20billion buying the newly printed USD the US dumped into the market. Japan reveals $20bn of currency interventions By David Pilling in Tokyo Published: May 8 2003 12:28 \| Last Updated: May 8 2003 21:58 Japan said on Thursday that it had sold yen to the tune of $20bn (€18bn) in the first three months of the year, raising the prospect that it would continue to intervene to prevent the Japanese currency becoming too strong. The detailed breakdown of what had been secret intervention show that Japan sold yen, largely for the dollar but also for the euro, on 17 days in the first three months of the year. The first intervention was on January 15 when the dollar fell below ¥118. news.ft.com The Europeans do the same, dumping Euro's into the market trying got dry up the USD coming out of the printing press. (All that with each country with its exports in mind) Meanwhile anything that ressembles a currency starts raising against the USD: "...The dollar fell to a new five-year low against the New Zealand dollar, retested a three-year low against the Australian dollar and slumped to a nine-month low against the yen. The Aussie and Kiwi dollar rose to US$0.644 and US$0.575 respectively against their US counterpart, chalking up gains of 12 per cent and 8.5 per cent this year." Even the Brazilian Real and the Argentinean peso are climbing against the USD. That's the equilizer. Next I will try to work out this equalization continuing what the effects will be.

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