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You would have needed a system that 'knew' that the jap.government would
release a rescue plan for its economy on that day, that could predict the
contents of that plan as well as the perception of fx dealers around the
world and, on top of that, could predict that BOJ would simultaneously sell
US$.
Otto Pichlhoefer
opich@xxxxxxx
-----Original Message-----
From: kevine sheen [SMTP:kalalex@xxxxxxxxxxxxx]
Sent: Wednesday, December 17, 1997 10:31 AM
To: RealTraders Discussion Group
Subject: Re: Asian Markets
I wonder if there was any system or methodology could predicted Today's big
drop in USD/JPY, almost 600 points in forex market, which is worth almost
$4,000 if you held a one IMM equivalent contract.
If there was,,,,I think only EWave or Fib number based system could
predict.
Any one predicted??
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> From: Wayne <wayner@xxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Subject: Gen: Asian Markets
> Date: Tuesday, December 16, 1997 10:27 PM
>
> This will probably kick into our markets today.
>
> JAPANESE PRIME MINISTER CALLS FOR ONE-TIME TAX CUT
> DEC. 17
>
> Japanese Prime Minister Ryutaro Hashimoto called for a
> one-time 2 trillion yen ($15.4 billion) cut in individual
> income taxes to help lift the economy out of its slump.
> Speaking at a nationally televised press conference, the
> prime minister said the tax cut, to be implemented before
> March 31, will be financed by deficit-covering bonds.
> Japanese stocks soared. The benchmark Nikkei 225 stock
> index rose 513.89 yen, or 3.21 percent. The dollar plunged
> against the yen, as low as 126.90 yen or 3.5 percent, its
> biggest one-day decline against the yen since August 8.
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