Discussion in 'Forex Trading' started by ASusilovic, Jun 11, 2007.
if NZD is worth shit then why they need to say that...(?!)
I like NZD/JPY too... Buy !
Looking for NZD/JPY 92.48 target
Source : Bloomberg
The Reserve Bank is set to ``strike again'' in the currency market to curb gains in the country's exchange-rate, according to UBS AG, the world's second-largest foreign-exchange dealer.
``The first intervention was a shot across the bow,'' Adam Myers, a currency strategist at UBS in London, said yesterday. ``They'll strike again. They will move the market a lot further if they intervene a second or third time.''
Good to know what UBSÂ´position is in NZD...
Because it's about liquidity. They need less ammunition in a market that is rather illiquid. Betting against a central bank that has made it's position known is pure foolishness, especially when that bank has proved it is willing to act on it's position.
Go ahead, try to be a hero. This is a zero sum game and I'll be happy to take your money.
Is this really your conviction concerning central bank interventions ? Most probably market players like George Soros and others made a fortune because they were afraid of central bank intervention ? If you take into consideration that Japanese investors are already invested with 17 billion NZD in bonds, does a couple of Millions by RBNZ intervention impress you ? Illiquid markets ? You donÂ´t have a clou about how fast market liquidity is there if it is "needed"...
So what about some out of the money put options ? Maybe youÂ´re making a fortune with the help of RBNZ !!???
THEY ARE SELLING THEIR OWN CURRENCY...the printing press means they have unlimited supply...this situation is nothing like 1992
yup joke is on me mate....u have a stellar understanding of FX fundamentals..
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