Strong commodity prices certainly do the Australian dollar no harm. But as we have seen, yield spreads are far more potent for the Australian dollar.
More Quotes from Sean Callow:
They're clarifying that rates aren't going to be cut. That indicates the coast is clear and allows people to put money into Indonesia to take advantage of the high yields.Sean Callow
The Singapore dollar is a good proxy for the yuan as Singapore is an open economy. When sentiment on the region and the yuan is strong, that's going to benefit the Singapore dollar.
Sean Callow
The sharp rally in the dollar is entirely justified by the unexpectedly good news for the U.S. current account financing equation. It certainly provides a considerable degree of comfort.
Sean Callow
Disaster had been priced into the peso, but they dodged the bullet. It's been a pretty remarkable turnaround. Arroyo deserves some of the credit.
Sean Callow
Talk of repatriation started in mid-July, particularly in Asia. Asian equities have performed poorly in recent days and therefore money is leaving Asia and returning to the U.S. Investors are looking to take profits to cover the losses elsewhere.
Sean Callow
They've left the deposit rate unchanged, so they clearly don't want to make the yuan any more attractive then it already is.
Sean Callow
Readers Who Like This Quotation Also Like:
Man is a messenger who forgot the message.Abraham Joshua Heschel
Wall Street people learn nothing and forget everything.
Benjamin Graham
Material loss can be made up through renewed labor, but the moral wrong which has been inflicted upon the conquered peoples, in the peace dictates, leaves a burning scar on the people's conscience.
Hjalmar Schacht