Zeev's Turnips Patch-No Politics (ZEEV)

[mlsoft]

George...

Had the $USD not rallied pretty good the past few days I would have agreed with you, but now I think any cut will bring in some weakness, especially if it were to be 50 basis points. I think the FOREX players know better than to listen too much to the "bias statement" - that is for J6P and other less sophisticated players.

FOREX traders read all the fundamental economic data, watch what the Fed does, and read between the lines in the Fed white papers - they tend to trade reality and do not hang on what the Fed says in the FOMC release. I suspect the only thing they are worried about at the moment is somebody joining Japan in intervening to hold the $USD up.

mlsoft