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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 659.00+1.0%Nov 21 4:00 PM EST
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To: Debra Orlow who wrote (3808)1/13/1999 8:23:00 AM
From: John Pitera  Read Replies (2) of 99985
 
Hi Debra, Brazil has expanded its trading bands on the Real.
As Mark Haines of CNBC just said since the only direction the Brazilian
currency is going is down, with the expansion of the trading bands, we
may not have an official devaluation, but it does appear that a
de facto deval. is occurring.

Let's watch the money center banks and brokers to gauge their reaction
today. I see Hong Kong was down over 4% today and that was on concerns with China and was not influenced by the Brazilian situation
as HK was already closed.

John
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