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.
More Quotes from Lee Ferridge:
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,Lee Ferridge
Yes, they've reached an agreement, but it remains to be seen whether the grand coalition can work and whether it actually delivers the reforms.
Lee Ferridge
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.
Lee Ferridge
People are still digesting Friday's data and wondering whether the short-term reaction to sell the dollar was right,
Lee Ferridge
We've just seen some stop-losses and it looks like people chose the downside.
Lee Ferridge
Trade concerns and concerns over repatriation (of yen by Japanese investors selling U.S. treasuries) are the main components behind the yen's rise,
Lee Ferridge
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Both read the Bible day and night, but thou read black where I read white.William Blake
When in doubt wear red.
Bill Blass
Anyone who thinks they have a monopoly on truth, and there is only one way to see the world, always gets us into trouble.
Charles Schumer