The Stock Market Bubble Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Stock Market Bubble

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Box-By-The-Riviera™ who wrote (2045)	10/7/1998 11:53:00 PM
From: Box-By-The-Riviera™	Read Replies (1) of 3339

Wednesday October 7, 11:32 pm Eastern Time Mighty U.S. dollar has become "mortal" -analysts By Wayne Cole SYDNEY, Oct 8 (Reuters) - The high-flying dollar is falling to earth as financial market concerns turn from Japan to the health for the U.S. economy, and further declines against the yen are possible, analysts said on Wednesday. The U.S. dollar overnight suffered its biggest one day fall against the yen in 25 years, losing more than 11 yen to a 12-month trough of 118.90. Against the mark it fell to 1.6160/70 from 1.6290/00 on Tuesday. By mid-morning in Tokyo on Thursday it had recovered some ground to stand at 121.30/40. The collapse cleaved a major trendline bulwark stretching back to April 1995 when the dollar had been wallowing at 79.70 yen and with it went all thought of a recovery. ''We now have the beginnings of a serial bear market in the U.S. the dollar which will last many quarters if not years,'' Westpac market strategist Peter Pontikas told Reuters Television. ''People are going back to basics,'' said Tim Moloney, a currency analyst at Deutsche Bank here.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next