Thursday, August 28, 2008

Another Quiet Day....But Stocks Move Higher

Today was once again a pretty quiet day. Latin American Emerging Market currencies held steady or strengthened (slightly) against the dollar and for now I still like sitting short dollars against the region. I fixed long some Usd/Ars and I see no reason to rush out of that position. The Argy curve continues to flatten and I think that will come to an end pretty soon.

Fannie Mae stop was halted and a management reshuffle was announced. The market liked this news and the stock rallied on the back of it.

I sold some dollars against Asia (Mostly Usd/Krw). The Korean Central Bank was in O/N selling dollars and there is always the chance they get aggressive and really give it a push.

I am starting to really like being short Jpy/Krw. I have a small position on now and will add along the way.

Good Luck and Good Currency Trading.



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