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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: X Y Zebra who wrote (2482)	6/28/2000 4:11:00 PM
From: John Pitera	Read Replies (1) \| Respond to of 33421

My interest in the mexican Peso would be to short it if, a downtrend is brewing.... more significantly in my world when I start to see currency problems pop up in 4 places in one weak it puts me at a higher Defcon level for macro problems ala the Thai Bhat devaluation. Currency instability creates significant global capital flows and has implications for the debt and equity markets. that's why I'm paying attention. ------------ ----Higher Rates Of No Help: Interest rates do not seem to matter much in Indonesia, at least as far as the rupiah is concerned. The rupiah was little changed last night, holding just below the 8700 level to the dollar despite the fact that the Bank of Indonesia pushed the rate on one-month paper above the 12% level. The weekly auction of one-month SBI certificates produced an average yield of 12.33%, versus 11.74% last week, marking the eighth consecutive rise in the SBI rate. The problem however, is that peso weakness has very little to do with interest rates, as we have already highlighted the heightened political, economic, and social uncertainty that continues to plague the country. ----