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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: yard_man who wrote (243778)	6/3/2003 4:11:25 PM
From: Haim R. Branisteanu	Read Replies (2) of 436258

tip, until last year there was some logic to FX exchanges since late February this year all got scrambled <GG> Two years ago the monkeys were singing the demise of the EUR and predicting 0.7 or 0.65 EUR to the USD ............. now they sing the same tune in reverse for the USD at 0.7 per EUR. O'Neil mentioned in an interview in CNBC that all FX speculators should face financial oblivion and IMHO he is right. FX gyration do not add any benefits to the world economy , not that currencies should not adjust but wild speculation as recently or 2 years ago are unnecessary and inflicting additional costs to the economy. For example yesterday and today there were 100 pips or so swings in the EUR/USD for no real economic reason. (from 1.1782 Friday close to 1.1650 yesterday to 1.1780 overnight to 1.1685 this late morning to 1.1735 now after going up to 1.1760 earlier) ...... currencies are not stock markets and transforming the FX market into quasy stock markets trading on hopes and fluff is dangerous

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