Posted on 10/05/2009 11:54:51 PM PDT by bruinbirdman
Greenback fell further after the G-7 would not come to the rescue.
The Group of Seven will let the dollar fall.
The heated climate before the Istanbul meeting led some to expect global policymakers to take a stand, but despite the strong tone, Andrew Wilkinson, senior market analyst at Interactive Brokers, said it was short on action. "It invites investors to test the dollar's lines of resistance in order to see what response, if any, might be forthcoming in the event of a further fall in the value of the dollar," Wilkinson said.
The dollar's loss of value over the past six months has been a cause for concern for the world's financial chief's, Wilkinson said, and reasonably so because the greenback's instability threatens financial markets and economies.
"Many currency traders were braced for some hint of intervention to prevail from this meeting," Wilkinson said, "especially given several verbal warnings or complaints from central bankers and politicians who had warned against dollar weakness."
The problem with intervention is that it would only be partially effective, especially if the U.S. isn't on board. The Treasury Department would never admit this, but for the time being it's in the country's interest to keep its currency low because it stimulates exports for the economy's manufacturing base and lowers the value of the debt that the Treasury is piling up.
The Australian dollar saw gains as the global economic outlook warms and speculation mounts that its central bank will raise rates this week. (See "Aussie ETF Spread Tastier Than Vegemite.") The Aussie wasn't alone though. As Wilkinson pointed out, the G-7 stance appeared to provide a green light for investors waiting to buy the dip in on commodity currencies.
(Excerpt) Read more at forbes.com ...
FTG7.
you could lose the profanity and still come across just as bitter and curmudgeonly...but otherwise I see no problem with what you’re saying...
In an informal forum like this there is a balance. The worst thing is language that is imprecise or ambiguous, that forces the reader to try to grasp what you're saying.
Get thee to a nunnery!!
I don’t speak without profanity, I just keep it clean here.
Cool it.
Hah! The written word is the result of a premeditated act. Which leads me to believe you can't even *think* without swearing. Oh never mind. I can't either. I just tone it down in writing in case my kids go looking to see what I've been ranting about.
Course we won't be able to import much either. Like oil, f'instance. It's a stupid squeeze.
Palin a traitor?
Hi ...welcome to FR....less than a month you say?...oh really?
Enjoy your stay...however long it may be..
You need to do more homework. While you’re at it look up the words “perspective” and “context”.
He tried to do something to the British pound, didn’t he?
The dollar fell before the financial crisis, soared during it, and has since retraced basically half the move it made during the crisis. It buys what it did a year ago in Euros, and a heck of a lot more in houses, stock, oil, gasoline, every industrial commodity, yada yada.
WTF?....where did you get the idea Palin is pro-amnesty?
I’d like to see some documentation...a quote , a byline...something...other than someones opinion such as yourself..
Watcha got?
Yeah he ran the pound into the ground(no pun intended)...made billions...
Remember the sept electronic run on the market?
http://www.freerepublic.com/focus/f-news/2183367/posts
Smells like Soros...
Perfect description!
You missed the point. The point was about Palin, not your grammar. I could give a flip about your grammar as long as I can understand the gist. I have a huge problem with you calling Palin a traitor. Do your homework.
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