VIA DOLLAROSA
Tema(s): En: Financial Times 8 oct. 1998, p. 16Resumen: No sign of central banks, no speculative attack, and yet the dollar still slumps 10 yen, or nearly 9 per cent, in a day. Such volatility in the world's main currency is indicative of the febrile state of financial markets. And, given that many investors, such as hedge funds, are short of the yen, it could well add to the systems fragility. If the scale of the move is alarming, the direction need not be so surprising. Currencies are two-sided prices, and in recent months many investors have allowed Japan's woes to blind them to the dollar's flaws, like the deterioration in the US current account. As long as the dollar was strong and, Wall Street surging ahead, financing the deficit was no problem. But once the investment outlook deteriorated, pressure on the dollar was likely to increase, especially with interest rates falling.| Tipo de ítem | Biblioteca actual | Signatura topográfica | Info Vol | Estado | Fecha de vencimiento | Código de barras | |
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Analítica de Seriada
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BIBLIOTECA ECONÓMICA BCE - QUITO | RESUM-016870 (Navegar estantería(Abre debajo)) | Financial Times. 8 oct. 1998, p. 16 | Disponible |
No sign of central banks, no speculative attack, and yet the dollar still slumps 10 yen, or nearly 9 per cent, in a day. Such volatility in the world's main currency is indicative of the febrile state of financial markets. And, given that many investors, such as hedge funds, are short of the yen, it could well add to the systems fragility. If the scale of the move is alarming, the direction need not be so surprising. Currencies are two-sided prices, and in recent months many investors have allowed Japan's woes to blind them to the dollar's flaws, like the deterioration in the US current account. As long as the dollar was strong and, Wall Street surging ahead, financing the deficit was no problem. But once the investment outlook deteriorated, pressure on the dollar was likely to increase, especially with interest rates falling.
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