An interesting note, as this week grinds to a close.
There have been hints the Japanese government is disturbed with the fall in the value of the $Am, and is itself intervening to hold the dollar up. To their figuring, in the interests of maintaining solid exports, the dollar should buy 150Yen. As it is, the dollar's only worth 120Yen today.
This emergence of the new currency, and the countries which have adopted it, has given pause to many a trader throughout the markets worldwide, but what it must suggest to the Japanese, who have enjoyed a 'favoured partner' status with the States for so long, is a matter for concern. We have recently seen the blowback effects of a severe downturn in the Japanese economy. T'would be a shame to actually have engineered their next.
The Euro, as of this moment, is close to 93 cents American. That's frightening.
The posturing continues, and as we head into a dreadful weekend, we expect to hear more in preparation for the 'justifyable incursion' which looms on the borders of Iraq, both from Tony and George, and one would expect from France and Germany as well.
Ahh well.. gives the regulars down at the local something to wax prolix on, and should provide many an occasion for the 'laying of the finger beside one's nose' gesture, a motion so economical in movement, which nevertheless conveys a vast common understanding.