Doyle Saylor wrote:
> Hello everyone,
> This week the Japanese LDP picked Keizo Obuchi as the new Prime
> Minister. Throughout the week "international investors" had signalled
> repeatedly they wanted someone else, but the Japanese didn't listen.
> On other news Moody's investment rating service has put Japan up
> for review. A possible downgrade of the Japanese credit rating is
> assumed to put pressure upon the new Prime Minister to follow the line
> being put forward by the U.S. to spend their way out of the economic
> crisis. In response the central bank of Japan seems intent upon a
> policy of lowering interest rates to stimulate inflation. This in turn
> will probably weaken the yen. According to press reports, the U.S.
> Federal Reserve plans on intervention again soon to prop up the Yen.
> Whether or not this is true, there seems to be many signs that options
> are growing narrower about what to do to stop the deflation picking up
> steam in Asia.
> This week South Africa was put under heavy pressure by the
> currency markets. It appears that S.A. is heading toward trouble.
> regards,
> Doyle Saylor