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Strategies & Market Trends : Asia Forum
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To: peter michaelson who wrote (7378)11/3/1998 10:43:00 AM
From: Stitch  Read Replies (1) of 9980
 
Peter,

<<And just maybe the fixing is part of what spurred the rise in other currencies, by putting the strong prospect of a floor by fiat in place.>>

Now that is an interesting thought, though I suspect the answer lies in U.S. interest rates and Japan's appearing to have taken steps to solve their banking problem. I also think the line drawn in Brazil has, in a round about way, caused some bullishness in Asia. In any case, I suspect Mahatir has a lot of regrets, not just the fixed exchange. <G>

Best,
Stitch

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