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Strategies & Market Trends : HONG KONG
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To: Ron Bower who wrote (1912)6/17/1998 1:19:00 PM
From: MikeM54321  Read Replies (1) of 2951
 
And one more report. Speculation China may intervene tonight. I guess the three countries are really trying to scare off speculators.

But I still don't get it. There are not only speculators to deal with, but what about US companies that have Japanese sales. They speculate as much as the speculators but it's called hedging. What is going to make this change? Traders are saying the yen will stay at todays level if there is fundamental change in Japan. But there hasn't been fundamental change in Japan for eight years. And from reading Tom's quotes by the Japanese, they don't sound real keen on having US Deputy Secretary Summers paying them a visit to talk about this. So how is the yen going to hold?

It will be interesting how this all shakes out. Reading today's print version of the Wall Street Journal, it is obvious this move by the US Treasury and Japan, and maybe China later, caught a lot of professionals totally off guard! It was a real shocker for everyone.
MikeM(From Florida)
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