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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (1199)	1/19/1998 7:40:00 PM
From: Jyoti sharma	Read Replies (3) \| Respond to of 9980

Mohan, Here is some thing on HK peg from today's SCMP: "Nobel Laureate economist Professor Merton Miller delivered an intellectual broadside on the Government's defence of the currency peg yesterday and proposed a radical plan that would involve the Government selling currency options as an insurance policy to restore confidence and reduce interest rates. Defending the Hong Kong dollar through high interest rates was doomed to failure, as it only enriched speculators and created a climate of fear where ordinary people switched savings into foreign currency, Mr Miller said." For the full story: scmp.com Comments any one. Jyoti