Asian currencies continue to sell off vs the $ on the heels of the news yesterday that South Korea said they will look into hot money inflows stemming from the $ carry trade and the Bank of Indonesia said they are looking into the foreign buying of bills. This follows the news a few weeks ago that Taiwan was limiting foreign deposit holdings and Brazil was taxing foreign inflow transactions. As I mentioned yesterday, we may have reached a short term pain threshold in terms of $ weakness and foreign countries are fighting back as they certainly won't wait for...
November 12th, 2008 at 12:18 pm
I didn’t know 80% of people could speak English in my state.
CNBC fighting on a daily basis. Priceless, LOL.
November 12th, 2008 at 12:26 pm
Everyone that comes on CNBC is in cash. So who is left to sell? Not many.