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

To: TobagoJack who wrote (25572)	11/20/2002 12:42:56 AM
From: Maurice Winn	Respond to of 74559

QUALCOMM helping out in China. Message 18227299 Jay, you'll soon be able to use speedy cyberphones around China, including Hong Kong and Taiwan. QUALCOMM is handing Hu a super-duper weapon with which to go hunting big game overseas. I'm sure he'll see the power the cdma2000 light sword will give him. Mqurice

To: TobagoJack who wrote (25572)	11/20/2002 1:04:20 AM
From: elmatador	Respond to of 74559

QUOTE Hungarian policy makers are facing some painful choices. A combination of carry trades - taking advantage of Hungary's high interest rates - and convergence trades - based on the rising prospect of eurozone membership - have been pushing the forint uncomfortably high. The central bank responded on Monday by cutting rates by 50 basis points. This was far from an easy decision. With worries about whether the inflation target will be met this year, the central bank may have prefered to keep rates on hold, analysts said. Speculation has been mounting that Hungary will be forced to shift its exchange rate band higher. The current range is Ft234.69 to Ft317.52 against the euro. The euro is now trading at Ft236.8. But John Davitte, head of emerging market research at IDEAglobal, the economic consultancy, said that an imminent revaluation was unlikely. "The finance ministry is concerned that a revaluation would damage long term competitiveness," he said. "The most likely outcome is for further interest rate cuts combined with intervention." He said that over the next year a revaluation looked increasing likely but that the authorities would seek to resist this. Traders betting on a revaluation in the short term could get burnt, he argued. UNQUOTE Perhaps too late already. The Euro has been devalued against the CZ Koruna, the SK Koruna and the Hungarian Florin. But when we talk about USD devaluation it must vis a vis which currency?