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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Henry Volquardsen who wrote (1602)	5/20/1999 10:48:00 AM
From: Paul Berliner	Read Replies (1) of 3536

I think the board will float the Argentine Peso, but the reaction will be positive - I would not expect competitive devaluations in the wake of an Argentine float, and I doubt the street does either - thus, markets will showcase a 'relief' rally as in Brazil, though for different reasons. Also, Soros recently purchased a huge stake in an Argentine bank, so he is net long obviously... and I think he did so because he saw little risk of turmoil upon an Argentine Peso float due to the perverse celebration upon the Real's float.

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