Dollar/yen ambush? Message Board

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Non-Tech : Dollar/yen ambush?

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To: Bo Bob Brain who wrote (19)	6/20/1998 2:41:00 PM
From: Bill Murphy	Read Replies (1) of 95

I'll take the other side of the trade ( I think the dollar is headed lower ). Wall street and the hedge fund community is unbelievable complacent about their short yen, short gold, short commodities, and long bond trade. Yesterday the bullish consensus for the yen was 15% after its biggest move in history. Reports from Rubin and Japan say nothing constructive. If there are surprises, they should be on the upside for the yen. If the hedge funds sense a change in theme and try and cover - lookout. For what it is worth, I look for the yen to go to 125. If our markets tank, it could go to 106 in the next year. That is minority view for you. Bill Murphy

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