22 ordspråk av Lee Ferridge
Lee Ferridge
A lot of people bought the yen following Koizumi's victory and now they're feeling the squeeze. The yen has got about as much as it was going to get from the election result and now people are taking the opportunity to sell.
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After all, it wasn't a bad number. It's just that the market had positioned for something even better.
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All the market is talking about is Katrina, what it means and is the Fed going to pause. It's just relentless at the moment, it's just dollar selling.
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It was a knee-jerk reaction after the reports of an earthquake.
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It was a knee-jerk reaction after the reports of an earthquake. The logic behind the move is that a natural disaster in California could damage the U.S. economy.
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People are still digesting Friday's data and wondering whether the short-term reaction to sell the dollar was right,
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The durable goods data could give us some direction but the market is pretty quiet before the big events. I don't think we'll move much before the Fed.
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The euro got bought up toward the end of last week on the prospect of a deal being struck, and so often with these things in the markets, it is `buy the rumor and sell the fact,'
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The mandate for Koizumi is stronger than many had anticipated,
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The market did go up a little on the news but now we're coming back down again because I think the good news is factored in,
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The question is: Is it economic recovery or government spending [that has boosted the yen recently]? I tend to think it's the latter. There is little incentive to buy Japanese stocks at the present time, and really, little incentive to buy yen.
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The trend is very very strong -- you don't want to stand in the way of it at the moment.
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There are players, including hedge funds and pension funds, establishing new longs in the euro at the start of the year.
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There is a growing realization that the Chinese move last week was not as huge as some interpreted it to be. Now people have worked out that it is not that significant a move.
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Trade concerns and concerns over repatriation (of yen by Japanese investors selling U.S. treasuries) are the main components behind the yen's rise,
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