Article for all euro fans!
Alot of people have mentioned that the yen and swiss franc were good currencies to trade in.
I think todays article from bloomberg is a real eye opener! Despite low interest rates they still cannot maintain their value.
And the euro is over inflated too!
QUOTE
Selling The Euro'
One-month implied volatility for the yen fell to 13.97 percent, from 15.12 percent yesterday. The benchmark interest rates in Japan of 0.5 percent are the lowest among major economies and compare with 2.75 percent in Switzerland and 8.25 percent in New Zealand.
One-month implied volatility for the yen fell to 13.97 percent, from 15.12 percent yesterday. The benchmark interest rates in Japan of 0.5 percent are the lowest among major economies and compare with 2.75 percent in Switzerland and 8.25 percent in New Zealand.
The dollar gained 0.2 percent to $1.4839 per euro yesterday.
``People are selling the euro to get into other currencies,'' said Brian Taylor, chief currency trader at Manufacturers & Traders Trust in Buffalo, New York, which has $50 billion in assets. ``It's overvalued at this point.''