It's all a very incremental process. They want to rebalance the capital inflows and outflows. Without a balance in flows, you wouldn't want to let the exchange rate find its own place.
More Quotes from Stephen Jen:
I strongly doubt that this will be the beginning of wholesale diversification from U.S. dollars.Stephen Jen
Regardless of the decision on the euro, the U.K. is becoming so well integrated into the euro economy that investors are willing to invest in the pound as a proxy. That has made the pound surprisingly resilient.
Stephen Jen
With the strong labor report, strong retail sales, and the strong inflation report, market expectations of a sustainable U.S. recovery have increased.
Stephen Jen
People are still looking for an interest-rate cut, but it's not at all clear when that will happen. Expectations are very volatile, but the point is that the currency seems very reluctant to go down either way.
Stephen Jen
The Europeans don't care as much about the yuan because the issue is trade and their deficits with the Chinese are much smaller than the U.S.'s.
Stephen Jen
Readers Who Like This Quotation Also Like:
Based on Topics: Balance Quotes, Capital Quotes, Place QuotesBased on Keywords: inflows, outflows, rebalance
I've just gone through so much in my life that pulling my top up just doesn't seem like that big a deal.
Nicole Richie
I shall stand for freedom of thought and expression in a place where it has been trampled and penalized.
Jalal Talabani
I never will have peace of mind. I'm not constructed that way. Some things in life can be horrible.
Julie Christie