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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: tradermike_1999 who started this subject	3/2/2004 6:48:06 PM
From: elmatador	of 74559

Two conflicting news: Horst Kohler went last week to Japan and praised its intervention to boost the Yen. Then yesterday: Greenspan warning to Japan over reserves By Barney Jopson in Tokyo and Jennifer Hughes in New York Published: March 2 2004 19:34 \| Last Updated: March 2 2004 19:34 The "awesome" scale of Japan's accumulation of dollar reserves could become "problematic" for the Japanese economy, Alan Greenspan, chairman of the US Federal Reserve, said last night. "It must be presumed that the rate of accumulation of dollar assets by the Japanese government will have to slow at some point and eventually cease," he said in a speech in New York.>> Obviously Kohler is telling the opposite what Greenspan wants: <<The latest call for action in the currency realm came yesterday from Horst Kohler, managing director of the International Monetary Fund. In a speech delivered in Prague, Kohler said he "takes seriously" concerns in Europe that the strength of the euro may stifle the continent's recovery. Though he cautioned against "overreacting," noting that the euro has rebounded after a long period of weakness, he voiced sympathy for suggestions that steps should be taken to counteract currency movements that would unfairly damage European economies.>>

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