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Gold/Mining/Energy : Gold Price Monitor
GDXJ 136.00+6.2%Jan 20 4:00 PM EST
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To: Ken Benes who wrote (25990)1/12/1999 9:43:00 AM
From: Hawkmoon  Read Replies (1) of 116896
 
No one is ready to let the dollar sink much lower. Traders are just playing brinksmanship and inkling out additional gains on their money market trades. For them to pile on now to drive the dollar lower would create a situation with the CB's have to intervene, thus causing traders substantial financial pain.

The BOJ, the Fed, and the ECB, will intervene to support the dollar.

But I have to wonder if a strong dollar is in our interest given the enormous trade deficit.

Regards,

Ron
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