Foreign Exchange Markets 2010 Part 3: Shaw Capital Management
The recent State of the Union message to Congress by President Obama included a request for
the approval of a further fiscal stimulus package this year amounting to around $100 billion to
help to...
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Foreign Exchange Markets 2010 Part 3: Shaw Capital Management
The recent State of the Union message to Congress by President Obama included a request for
the approval of a further fiscal stimulus package this year amounting to around $100 billion to
help to tackle the unemployment problem, and he has also presented a $3.
8 trillion budget for
fiscal 2011 that is likely to maintain the overall deficit around the $1.
35 trillion level expected this
year.
Foreign Exchange Markets 2010 Part 3: Shaw Capital Management - Much will depend on the
attitude of overseas holders, and especially on the attitude of the Chinese and Japanese
authorities.
For the present they seem to be prepared to maintain and even increase their dollar
exposure; and if this continues, and the problems of other major currencies remain unresolved,
it should be enough to allow the dollar to “improve”.
The euro struggled to recover in the early
part of January from the big fall that occurred in December; but the recov
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