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Strategies & Market Trends : Waiting for the big Kahuna
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To: GROUND ZERO™ who wrote (77518)11/14/2007 1:58:53 PM
From: Real Man  Read Replies (1) of 94695
 
Actually, the dollar is getting trashed on it's own due to very
poor fundamentals (trade deficit, which requires 2.1 billion
dollars per day inflows from foreigners to keep it stable),
but the Fed has drastically accelerated the dollar trashing by
cutting rates. Now 400 trillion dollar carry trade is selling
it. It only buys the dollar when the carry trade is in
trouble. It actually buys the Yen, but the dollar benefits
from the selling of other currencies to buy Yen. The dollar
might have a brief bounce, but it is very unlikely that the
dollar will change its course sans Fed hiking, and how likely
is THAT? The buying comes from dollar
peggers, countries that fix their exchange rates to the dollar,
but their ranks are getting thinner and thinner.
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