New Zealand Dollar Drops After Central Bank Sells Currency - where is George Soros ?

Discussion in 'Forex Trading' started by ASusilovic, Jun 11, 2007.

  1. dhpar

    dhpar

    if NZD is worth shit then why they need to say that...(?!) :cool:
     
    #11     Jun 11, 2007
  2. I like NZD/JPY too...:) Buy !
     
    #12     Jun 11, 2007
  3. Looking for NZD/JPY 92.48 target
     
    #13     Jun 11, 2007
  4. 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 UBS´position is in NZD...
     
    #14     Jun 12, 2007
  5. 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.
     
    #15     Jun 12, 2007
  6. 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 don´t have a clou about how fast market liquidity is there if it is "needed"...
     
    #16     Jun 12, 2007
  7. So what about some out of the money put options ? Maybe you´re making a fortune with the help of RBNZ !!???
     
    #17     Jun 12, 2007
  8. ETW77

    ETW77

    THEY ARE SELLING THEIR OWN CURRENCY...the printing press means they have unlimited supply...this situation is nothing like 1992
     
    #18     Jun 12, 2007
  9. :D :D :D :D :D :D :D :D :D :D
     
    #19     Jun 12, 2007
  10. ETW77

    ETW77

    yup joke is on me mate....u have a stellar understanding of FX fundamentals..
     
    #20     Jun 12, 2007