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Thailand Developments

October 12, 2010
Thailand has become the latest emerging market country to take action to slow capital inflows. As hinted yesterday, Thailand’s cabinet approved today to impose the 15% tax on interest income paid to foreign investors that domestic investors subject to. Previously, foreign investors were exempt for income earned from government or quasi-government …
Thailand Developments Thailand Developments Reviewed by Marc Chandler on October 12, 2010 Rating: 5
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Long Awaited Dollar Correction

October 12, 2010
The US dollar is enjoying a broad correction against most of the major and emerging market currencies. The Japanese yen is one of the few exceptions and it is largely sidelined with the greenback confined in a narrow range on either side of JPY82. Japanese officials continue to brandish the threat of intervention.
The market had struggled to maint…
Long Awaited Dollar Correction Long Awaited Dollar Correction Reviewed by Marc Chandler on October 12, 2010 Rating: 5
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Capital Market Overview

October 11, 2010
The US dollar is little changed against the major foreign currencies as the consolidation seen at the end of last week continue. Holidays in Japan, Canada and the United States contributes to the subdued tone. The euro made a brief run above the $1.40 level in early Asia, but it was not sustained. Support is seen in the $1.3880-$1.3900 area. A bre…
Capital Market Overview Capital Market Overview Reviewed by Marc Chandler on October 11, 2010 Rating: 5
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Currency War: A View from the Trenches

October 08, 2010
Recent weeks have seen much talk about "currency wars". This talk suggests that many countries are seeking the devaluation of their currencies in order to promote their exports, which in turn forces other countries to respond with similar efforts. It harkens back to the disastrous beggar-thy-neighbor policy that was seen between the two …
Currency War: A View from the Trenches Currency War: A View from the Trenches Reviewed by Marc Chandler on October 08, 2010 Rating: 5
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Overview Ahead of US Employment Report

October 08, 2010
The US dollar is firmer amid last minute position agajust ahead of the employment data. With another round of asset purchases continues to seem probable, even though FOMC voting member Bullard and non-voting Dallas Fed’s Fisher indicated it is not yet a done deal.
Underlying sentiment is extremely dollar negative. In fact, the extreme sentiment re…
Overview Ahead of US Employment Report Overview Ahead of US Employment Report Reviewed by Marc Chandler on October 08, 2010 Rating: 5
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Dollar Selling is Relentless

October 07, 2010
The US dollar remains under relentless pressure. Even though the ADP has tended to under under-estimate private sector job growth, the unexpected weakness reported yesterday is the latest catalyst for expectations of renewed asset purchases by the Federal Reserve. The euro approached the $1.40 level before the market paused in Europe. Slightly str…
Dollar Selling is Relentless Dollar Selling is Relentless Reviewed by Marc Chandler on October 07, 2010 Rating: 5
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Mexico Update: Century Bond and More

October 06, 2010
Mexico is taking advantage of the investment climate and the near insatiable demand for emerging market credits. The peso may also benefit from actions by other countries, from Brazil to South Korea taking actions to deter hot money inflows.
Yesterday. Mexico brought a 100-year bond to market, an unprecedented duration for Latam and a rare issue i…
Mexico Update: Century Bond and More Mexico Update: Century Bond and More Reviewed by Marc Chandler on October 06, 2010 Rating: 5
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Understanding the FX Price Action

October 06, 2010
The price action in the foreign exchange market stands in sharp contrast with yesterday’s key developments.
First, like they did earlier this year, the Reserve Bank of Australia surprised the market by apparently signaling the need to hike rates and then failed to deliver. This led to a wash out of some of the late buyers of Australian dollars. At…
Understanding the FX Price Action Understanding the FX Price Action Reviewed by Marc Chandler on October 06, 2010 Rating: 5
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Did the MOF Signal No More BOJ Intervention (Near-Term)?

October 05, 2010
Japan's Finance Minister Noda has indicated that he will take advantage of the upcoming G7 and IMF meeting to explain its Sept 15 intervention. While US Fed and Treasury and the ECB did not comment on the intervention, several others did, including Eurogroup head Juncker, US House Ways and Means Committee Chairman Levin, and the heads of the I…
Did the MOF Signal No More BOJ Intervention (Near-Term)? Did the MOF Signal No More BOJ Intervention (Near-Term)? Reviewed by Marc Chandler on October 05, 2010 Rating: 5
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