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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: gregor_us who wrote (20786)	1/8/2005 8:38:01 PM
From: mishedlo	Respond to of 116555

However, since there is no fundamental reason for the dollar to go higher A fundamental reason for a US$ rally can easily be made. Hussman made one last week. Mish

To: gregor_us who wrote (20786)	1/8/2005 8:38:46 PM
From: mishedlo	Respond to of 116555

However, since there is no fundamental reason for the dollar to go higher A fundamental reason for a US$ rally can easily be made. Hussman made one last week. Mish

To: gregor_us who wrote (20786)	1/9/2005 12:51:55 AM
From: NOW	Read Replies (2) \| Respond to of 116555

junkies behave this way all the time, really.

To: gregor_us who wrote (20786)	1/10/2005 8:19:03 PM
From: gregor_us	Respond to of 116555

Dollar Drops on Report Snow Wants `Market Forces' to Set Rates (From the Fed to the White House, every hawkish statement is softened by a dovish statement--and visa versa. This really is getting too easy to predict. Message 20929602 ) ________________________________________________________ Jan. 11 (Bloomberg) -- The dollar weakened for a second day in Asia after Treasury Secretary John Snow said in a Reuters interview that exchange rates are best left to ``market forces.'' The U.S. currency dropped for a third year in 2004, partly on speculation the Bush administration favors a weaker currency to reduce its record trade and budget deficits. Snow's remarks on Jan. 7 that U.S. policy makers ``want to do things to sustain the strength'' of the dollar, helped the currency to its second- biggest weekly climb ever against the euro. ``The repetition of `market forces' sounds likes nothing's changed'' in U.S. currency policy, said Robert Rennie, a currency strategist in Sydney at Westpac Banking Corp. ``So the dollar goes down.'' Against the euro, the dollar dropped to $1.3113 at 9:55 a.m. in Tokyo, from $1.3073 late yesterday in New York, according to currency-trading system EBS. It was also at 104.24 yen, from 104.34. The dollar may fall to $1.3150 today, Rennie said. ``Just because I don't say something doesn't mean it's not part of our policy,'' Snow was quoted as saying in response to a question in an interview with Reuters Television. ``We believe in market forces and free capital flows.'' The dollar last week rose 3.8 percent against the euro and 2.1 percent versus the yen. The advance against the euro was its second-biggest since the European currency was introduced in January 1999, after a gain of 4 percent in the week ended March 16, 2001. The U.S. currency also fell yesterday after the first six- day rally in more than a year prompted some investors to bet the dollar's gains were excessive. A technical indicator signaled the dollar was poised to decline. The dollar's 14-day relative strength index, a gauge of a currency's momentum, closed last week at the lowest versus the euro since April, suggesting the dollar rally was going to fade.