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Strategies & Market Trends : Currencies and the Global Capital Markets -- Ignore unavailable to you. Want to Upgrade?

To: Chip McVickar who wrote (1200)	1/27/1999 12:11:00 PM
From: N	Respond to of 3536

Corruption comes to mind... Daly's kinsman Bill dutifully articulated his way through, deadpan, Chicago style, a laundry list of fed policy speak this am on cnn "....and we intend to keep working with foreign governments to reduce bribery and corruption." Welcome to Cook County....world's comparative advantage in hiding the money in a paper bag...aka most recently, TID tax increment district financing one joke allowed on this thread, no? Nancy, outta here..

To: Chip McVickar who wrote (1200)	1/27/1999 12:58:00 PM
From: Paul Berliner	Read Replies (1) \| Respond to of 3536

Remeber several months back when the Yen was ine the 130 range and the PBOC would come out with bizarre statements such as 'we can not hold the RMB much longer with the Yen at this rate... Japan must do something about it.. etc." Clinton then visited China and all Asian currencies strengthened as the great global margin call of '98 came to pass. My question is this - with Brazil's devaluation (or continuing devaluation - it hasn't been halted yet) leaving smoke that has yet to clear, is China's threshhold for pain now maybe Yen 120? Now that the dollar has bounced off its low it seems that if a few institutions establish decent short yen positions, we may very well see 120 by next week.... With the U.S. stock market continuing higher, Japanese citizens may be quick to send T. Rowe Price a check, as is now allowed in Japan. This may be exacerbating the Yen's recent weakness, or it may just be a technical correction. It is imperitive for the Chinese to strengthen their future prospects by devaluing - there are warehouses full of garments and shoes that have been waiting for months to be exported, and the average selling prices are even lower now, due to cutthroat competition among neighboring nations and China for U.S. garment industry business.