“Everything is funny as long as it is happening to somebody else.” – Will Rogers
FX Trading – You Just Got Geithner’d
Well, it really never fails. Perhaps we should contact the US Treasury to secure an appearance calendar for the man.
The man being US Treasury Secretary Timothy Geithner.
When he speaks, the dollar listens – it listens to the wind rushing by as the speed of its descent grows faster. When Geithner comes out and says something notable, and in that instance if the US dollar does not react poorly, you’ll know it’s safe to get long the buck.
Here are some of his comments yesterday:
“More and more countries face stronger pressure to lean against the market forces pushing up the value of their currencies …
“The collective impact of this behaviour risks either causing inflation and asset bubbles in emerging economies, or else depressing consumption growth, intensifying short-term distortions in favor of exports.”
…..read more HERE