Wednesday, September 15, 2010

More nonsense from the experts

From this week’s Forbes:
Though the weakening strategy clearly had an impact Wednesday, the long-term effect is more tenuous. "Overall they're going to face a tough task," says Dan Cook, senior market analyst at IG Markets. The major upward pressure behind the yen comes from its safe-haven status. "Whenever we get some kind of shake-up, more investors and traders flock towards the yen," Cook says. "They can make short-term moves but I still don't see real weakness in the yen until there is a clearer economic picture."

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