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

To: Amark$p who wrote (100620)	8/10/2009 5:06:18 PM
From: The Vet	2 Recommendations Respond to of 116555

how does one devalue a currency with free floating exchange rates... That's the problem, and while the Swiss can do it, their currency was not the "world reserve currency" and their relative size and importance much less than the US. The Japanese in the past regularly tried to manipulate the Yen relative to the USD, and while their initial moves always seem to work, it is mainly because the traders pile on with the government to take advantage of the momentum created, and then simply reverse their trades when the government calls it a day! They have no interest rate lever so they are limited to market action which by its very nature can only be transient.