2008年11月16日

Japan's Aso Says Dollar

Japan's Aso Says Dollar Should Remain World's Reserve Currency

By John Brinsley

Nov. 15 (Bloomberg) -- Japanese Prime Minister Taro Aso told global leaders the U.S. dollar needs to remain the world's reserve currency, in contrast to suggestions by French President Nicolas Sarkozy that there are alternatives. ``We said we need to support the dollar-centered currency system,'' Aso said at a news conference in Washington after the Group of 20 meeting. Sarkozy, who argues that the international financial turmoil calls for restructuring global systems, today told reporters that ``you can't talk world governance without talking currencies. The euro doesn't exist? The yuan doesn't exist?'' He spoke after leaders agreed to work together to stabilize financial markets and boost global growth. Aso also said Japan pledged to provide as much as $100 billion from its foreign-exchange reserves to the International Monetary Fund for emergency loans to developing countries. Similar donations from other countries with large currency reserves such as China and those in the Middle East would be welcome, he said. ``Just because no one else pledged any money at this meeting doesn't mean they won't go home and talk about it,'' Aso said. Japan yesterday pledged $2 billion to a World Bank fund intended to help recapitalize struggling banks in developing countries. Japan's $955 billion in foreign-exchange reserves are second only to the $1.9 trillion held by China.

Bloomberg.com

2008年11月 5日

リトレースメント

為替相場においてある特定の方向に動いた後に価格は通常逆の方向に幾分戻り、その後また元のトレンドに沿った動きをみせることがあります。このような逆方向への戻りの度合いは特定の割合になることが多く、最も一般的なのが「半値戻し」です。
例えば上昇過程にある相場では、100から110まで上昇した価格が、一度上昇幅の半分である105近辺まで下落した後、再度もとの上昇トレンドに戻るということがよく起こります。半値戻しのほかにも「1/3戻し」や「2/3戻し」といった割合がよく知られてます。つまり、価格の戻しの割合は1/3単位で考えられることが多く、よって、最小で約33%、最大で約66%ということになります。
これらの事象を利用し、上昇トレンドにおいては33~50%の下降ゾーンを計算し、買いのタイミングを計るというように活用します。戻りの最大幅は66%であり、前回のトレンドが継続されるためには、調整のラインである2/3で止まらなくてはなりません。ここで止まれば上昇トレンドにおいては「買い」の、下降トレンドでは「売り」の比較的安全なポイントとなり、逆に2/3地点で止まらないようであれば、トレンド転換と受け止められ、この場合トレンドの全値を戻すことになります。

2008年11月 2日

Dollar Flat After Japan's Cut

The dollar was little changed against the yen Friday after the Bank of Japan cut interest rates, but not by quite as much as markets were hoping. Japan's central bank cut its benchmark rate by 0.20 percantage points to 0.30% in an effort to encourage lending and spark growth in the country's struggling economy. Markets were expecting a 0.25-point cut, so the disappointment pushed Tokyo's stock market lower. That caused modest risk aversion, which pushed the low-yielding yen higher across the board as global currency ...

WSJ