At least I have a "clue" how to spell. You don't like my opinion? Ignore it, or challenge it with a debate and facts. Wanna resort to simple insults? Go to the Chit Chat forum where you can play with folks of your intellect, kazol. If you have the money that George has, you can play like George does. But if you're just another pissant like the rest of us, and you think you can take on the RBNZ, go right ahead as I said before. Please, though, make sure you post your positions here for us to see how well you do. This FX forum used to be such better quality. Oh, the old days.
Or they could cut their interest rate by half (like they say, "fight fire with fire", that just might work ) Now THAT would really grab some guys by the balls!...
If you have the balls, Ivanovich, come on accept a bet ! Long NZD/JPY 91.62 average, NZD/USD 0.7540. Target NZD/JPY 92.18, NZD/USD 0.7608. What´s your call, he ?
"Facts" on central bank interventions - hope, Ivanovich, you have Ph.D. to understand it ! http://www.bis.org/publ/bispap10.htm
Again I stress the situation in NZ is nothing like the ERM crisis of the early nineties. The RBNZ is selling their own currency and probably is only looking to accumulate reserves at good levels and stem the appreciation of the Bird. I still think a history lesson is in order for all of those who think taking on a CB is an âeasy one way betâ â¦sure Soros gets praise for 1992 but what happened a year later? Lost about a Billion taking on the BoF. http://www.iht.com/articles/1995/10/07/guru.t.php
ASusilovic, I see you're foaming at the mouth in anticipation of my reply. I am sorry you had to sit there, breathless in anticipation waiting for me while I had better things to do. But now my attention is all yours. Let's see, I'll try to answer your three posts to me in one. Your position is noted. What are we betting? Again, I had slightly more important things to do that to hit refresh every 5 seconds waiting for a reply on ET. Sorry, mate. What has this got to do with...well, anything I said? It is obvious English is not your first language, so take your time. It will come. The importance is making yourself understood.
ETW77, my point is not an overlay of the situations 1992 / 2007. My point is : if the market does not react to the `provocation` of RBNZ, Bollard and coleagues might think "Well, our intervention works and we can manipulate / affect markets by simply entering the currency markets at certain well-defined points and give speculators a hard time." 15 years ago every speculator around the world would have interpret RBNZ´ actions for an opportunity to clash with a CB. Some central-bankers warned about "herd-like" mentality concerning certain market developments. Where is this herd when needed to "fight" the provocateur ? By the way : I am long NZ since 2003, but still I cannot bear a CB entering markets short time after raising rates and "countrefeiting" the effects of their self-inflicted policy...