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Gold/Mining/Energy : Precious and Base Metal Investing

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To: Eva who wrote (13591)	7/8/2003 1:52:29 PM
From: Louis V. Lambrecht	Read Replies (2) of 39344

Uptrend in the $? More complicated than that IMHO. Curently there are some profitable carry trades. You can borrow Yens (and get paid for it, negative interest. This is good for the Dollar as the Yen is weakened) and buy currencies which offer better interest rates (especially commodity currencies). So, most part of the carry trade is outside the USD. Most currency traders having bid up the Euro, now are betting on the other currencies (also good for the Dollar as the Euro is 57% of the Dollar index). Hence, Yen and Euro are weakened by these trades. More weakened than the Dollar. Say that major 3 currencies are weakened. Far from being bullish the one or the other.

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