When the dollar declines, there's less incentive for international investors to hold U.S. companies' assets because they decline in value. It also impacts perception. People want to see a stronger dollar to show America can stand on its own, particularly when there is all this uncertainty about North Korea, Iraq and Bush's new economic team.
More Quotes from Peter Green:
The dollar news has already been in people's minds for some time, so it's not carrying much sway.Peter Green
War news is having a fingernail-biting impact generally. Right now, there's a sense of people not wanting to do much until the troops get to Baghdad, which could happen in the next day or two. But there's also the hope of some sort of diplomatic resolution before this situation becomes a runaway train. I don't think either side wants to see this prolonged.
Peter Green
There's a perception that the economy is getting better, whether that perception is real or not. You have a lot of people choosing to see the glass as half full at the moment. But I would expect that in a few days we're going to see some profit taking. This is really just a big trading range.
Peter Green
The question is, how seriously do we take what's going on today, considering the volume, and what's going to happen next week when people come back I would take today as a positive with the caveat that not many people are here.
Peter Green
The rally is clearly influenced by the ISM number,
Peter Green
It was a pleasant surprise, what happened with the jobs report. People were relieved -- the change in non-farm payrolls was the standout.
Peter Green
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