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Strategies & Market Trends : HONG KONG -- Ignore unavailable to you. Want to Upgrade?

To: Tom who wrote (1910)	6/17/1998 11:35:00 AM
From: MikeM54321	Read Replies (3) \| Respond to of 2951

I wonder if it's a coincidental that China was seriously threatening to devalue, and the US steps up to the plate and props up the yen? Now I suppose Japan is going to step up next. But after that, who will? I remember the US not having huge amounts of reserves to do this. Unlike Japan, who I recall as having large reserves. Japan has somewhere in the neighborhood of $200 billion. They spent $20 billion in a failed attempt a month ago to boost the yen. I wonder how much the US intervened last couple of days? Doesn't the US only have about $80 billion earmarked for intervention? I'm not quite certain how the intervention process works, but I thought it was very limited in what the US can spend. If someone could enlighten me on how intervention works, I would appreciate it. I do understand they sell dollars and buy yen. That part is straight forwards. But where does the pool of dollars come from? That's what I don't understand. Thanks, MikeM(From Florida)