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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: long-gone who wrote (58147)	9/14/2000 9:03:43 AM
From: Hawkmoon	Read Replies (1) \| Respond to of 116756

after the European Central Bank said it will buy 2.5 billion euros with the interest it earns on foreign-currency reserves. So the ECB is using the interest they make off of an appreciating dollar currency (because the yen isn't paying any interest) to repurchase Euros??? Minimal play at restoring confidence.... Central Bank intervention seldom works for long unless they sell the appreciating currency in quantities sufficient enough to break the uptrend. Consequently, the same goes for supporting their depreciating currency... They are merely trying to cushion the downfall, but showing they are unwilling to convert foreign currency reserves to do it.. Regards, Ron