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Strategies & Market Trends : John Pitera's Market Laboratory

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To: John Pitera who wrote (7520)	1/18/2007 10:14:44 PM
From: John Pitera	Read Replies (2) of 33421

I always find it interesting when finance minister make bold statements like "we've got unlimited financial resources" to keep our currency stable. The Global economy is being contorted a bit by the increase in currency volatility, coupled with the current account trade surpluses and deficits that are occurring. and no country really has unlimited financial resources to prevent bigger macro trends from unfolding, regardless what we here from some finance ministers. --------------------------- S.Korea may take additional steps to cap won Thursday, January 18, 2007 5:56:48 PM (GMT-06:00) Provided by: Reuters News SEOUL, Jan 19 (Reuters) - South Korea is ready to take stronger measures to keep the won stable in addition to steps announced this week, a deputy finance minister told Reuters on Friday, as the won rallied against the yen. Kim Sung-jin also said in an interview the government had "unlimited financial resources" to use to cap the won's <KRW=> strength not only against the dollar but versus the yen <JPYKRW=R>, as the won's rise threatened local exporters. He added President Roh Moo-hyun was now more determined than ever to defend a stable currency market

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