Thursday, February 22, 2007

Trying to bring Iran back to the table

In todays USA Today there is an article about continued efforts to bring Iran back to the negotiationg table. This is good news. Clearly there is no desire by any of the members of this "coalition" to use force to stop Iran's nuclear program. Iran states in the article that it has "called for talks with the U.S". Great news.... but now what? In calling for talks they also state that they have not budged on council demands that it mothball its enrichment program. I certainly am not calling for an attack, but it seems to me that this tactic (talking) will not work either. Iran will only stop their program if they get something in return (think N Korea that needs food and other basic supplies for day to day living). But what, and who should provide those goods? It would seem logical to me that Russia and Europe should be taking the lead in these talks. Iran hates the U.S. to begin with so why rub it in their faces by being the lead negotiator. Just a few thoughts to start your day.....

The dollar has strengthened abit against the majors overnight, much to my dismay. But Emerging Market currencies continue to strengthen. Brazil, Mexico and Chile leading the pack. Turkey (TRY) is on the support line that I talked about a few post's ago (1.3800) and looking ready to go lower.

Stay the course for now. Yield rules !!

These are the FX Trading Ideas for Today

More Ramblings later.


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