There is another factor at work as well.
The following is taken from a very good article by Gary Dorsch which was published today at http://www.financialsense.com/fsu/editorials/dorsch/2008/1008.html
.................
With the Bank of Japan opting to leave its rates steady, “yen carry” traders responded by hammering the Australian dollar to 65-yen, a five-year low, plunging 20% in just three-days, while governments and central banks across the world scrambled to rescue banks from collapse by guaranteeing bank deposits, and injecting tens of billions of dollars to thaw-out frozen credit markets. Unwinding of “yen carry” trades also slammed South Korea’s won to 1,398 against the dollar, the lowest in a decade, amid a stampede from the Kospi index.
..........................................................
jfi
dub
- Forums
- ASX - General
- why isnt the us dollar in freefall
why isnt the us dollar in freefall, page-11
-
- There are more pages in this discussion • 28 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
SER
STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
SPONSORED BY The Market Online