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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Step1 who wrote (1108)	12/15/1998 2:21:00 PM
From: Robert Douglas	Read Replies (2) of 3536

OK, I'll bite. My reasons for being silent lately are twofold. First I have been distracted by my high tech investments which have been performing lately and demanding my attention – I should know better. Secondly, I have closed out my shorts on the dollar and have actually gone long the dollar via a short yen position. As the resident dollar bear here since the days of summer, I don't want you to think I have changed my tune. I still feel the next big move in the dollar is down, but have been a bit surprised by the strength of the U. S. economy. Additionally I feel that in the short run (the next few months) that the interest rate differential between the U.S. and Japan will work against the yen as some of these carry trades are put back on. So until the U.S. economy shows real weakness, I will stay away from shorting the greenback. This doesn't mean that I won't still collect on my bet with Paul which I am well on my way to winning. ;-) -Robert PS Does anyone know why Henry is AWOL?

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