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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (19084)	5/18/2002 8:44:14 AM
From: Moominoid	Respond to of 74559

The HK peg held through the 97-8 Asian/Russian crisis and everything else thrown at it. By contrast OZ has a wonderfully floating currency and so no sign of any recession to speak of any time recently. Now at 55.25 US cents and heading up (from low of 47). When I came here in 1996 it was at 80 US cents. And now I am going back to America.

To: Ilaine who wrote (19084)	5/18/2002 8:57:11 AM
From: TobagoJack	Read Replies (1) \| Respond to of 74559

Hi CB, <<Can you short the HK dollar?>> Yes, but advise against the temptation as all who tried before is less or no more, because they forget, there is at least US$ 1 in reserve for each HK$ 7.8 in circulation. Most folks I know keep their savings in USD denomination. HK can dollarize overnight without skipping heart beat. <<would not count on that 7.8 peg holding>> I think the peg will hold, easily, because the USD will go down against the currency of HK's other trading partners except China. Time will tell if the script is right. Chugs, Jay