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FX intervention 30/09
- Thread starter m22au
- Start date
Quote from m22au:
Large gains by the US Dollar after 10am ET do smell of intervention, but I find that hard to believe given the current policy of "low rates for a considerable period".
Despite the gains by the US Dollar, bonds haven't sold off.
Anyone care to share their thoughts?
It seems more like a technical move triggered by a large order setting off a cascade of trailing stops and stop-loss orders in multiple markets simultaneously. A similar thing happened in early January.
msfe: large gains by the US Dollar since 10am ET ...
I ignored the obvious - that European central banks and/or the Fed would intervene on the BOJ's behalf. I find that strange - on one hand the Fed is looking to engineer a weak US Dollar yet on the other it helps out the BOJ by selling Yen.
I ignored the obvious - that European central banks and/or the Fed would intervene on the BOJ's behalf. I find that strange - on one hand the Fed is looking to engineer a weak US Dollar yet on the other it helps out the BOJ by selling Yen.
Quote from m22au:
msfe: large gains by the US Dollar since 10am ET ...
I ignored the obvious - that European central banks and/or the Fed would intervene on the BOJ's behalf. I find that strange - on one hand the Fed is looking to engineer a weak US Dollar yet on the other it helps out the BOJ by selling Yen.
"Lord, make me chaste, but not yet" --St. Augustine
The US may want a weaker dollar, but it's not in any sovereign's best interest for the dollar to fall off a cliff. It's been 'managed down' for a long time now.
Trying to stave off Soros' 'reflexivity' is funny, in an existential sense. Hard to get a weaker dollar without impeding foreign capital inflows-- that kind of thing can get out of hand quickly.
regards,
laz
Thanks for your ideas Laz, but I must admit that I didn't understand
"Trying to stave off Soros' 'reflexivity' is funny, in an existential sense. "
"Trying to stave off Soros' 'reflexivity' is funny, in an existential sense. "
Quote from laziz314159:
"Lord, make me chaste, but not yet" --St. Augustine
The US may want a weaker dollar, but it's not in any sovereign's best interest for the dollar to fall off a cliff. It's been 'managed down' for a long time now.
Trying to stave off Soros' 'reflexivity' is funny, in an existential sense. Hard to get a weaker dollar without impeding foreign capital inflows-- that kind of thing can get out of hand quickly.
regards,
laz
If you are a dollar bull, this can't be positive, an intervention and yet not much.....