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To: yard_man who wrote (243836)	6/4/2003 11:25:42 AM
From: Haim R. Branisteanu	Respond to of 436258

tippet, I think you got it all wrong from what I wrote. I think I posted way back that the EUR was undervalued and the USD overvalued, that is why most of my net worth is in EUR's. It is nothing wrong with FX to adjust the issue is that using thin markets to exaberate FX moves is damaging. My reference was what happen to the FX around memorial day and the wild swings between May 26 to June 1. We are back to May 22 levels but with 2% to 3% swings in between Rest my case

To: yard_man who wrote (243836)	6/4/2003 5:08:03 PM
From: Haim R. Branisteanu	Read Replies (3) \| Respond to of 436258

tippet sorry to be repetitive but at would like to point out one more tid bit of fact I was writing about. On last Friday or 3 working days ago the EUR traded above 1.19 and most monkeys from various banks predicted 1.23 within a week. Monday early morning the EUR was around 1.165 on June 2 one day later it hit 1.178 ....... now the EUR is trading at 1.1635. what warranted those gyration of 2.5% in 3 working days ?? For an exporter or importer who manufactures widgets we can use in our daily life those swings hurt his bottom line quite substantial depending in the import / export content .......... and that was my point.