Lee Ferridge Quotations

There are players, including hedge funds and pension funds, establishing new longs in the euro at the start of the year.

There is a growing realization that the Chinese move last week was not as huge as some interpreted it to be. Now people have worked out that it is not that significant a move.

We have the FOMC tomorrow and big economic numbers, which are generally seen as upbeat,

Trade concerns and concerns over repatriation (of yen by Japanese investors selling U.S. treasuries) are the main components behind the yen's rise,

Without fresh good news on the U.S., the current account worries come back to the fore so people worry about the dollar. With stocks it's a question of how much good news is already priced in.

We've just seen some stop-losses and it looks like people chose the downside.

Yes, they've reached an agreement, but it remains to be seen whether the grand coalition can work and whether it actually delivers the reforms.

The trend is very very strong -- you don't want to stand in the way of it at the moment.

It was a knee-jerk reaction after the reports of an earthquake. The logic behind the move is that a natural disaster in California could damage the U.S. economy.

It was a knee-jerk reaction after the reports of an earthquake.

People are still digesting Friday's data and wondering whether the short-term reaction to sell the dollar was right,

After all, it wasn't a bad number. It's just that the market had positioned for something even better.

A lot of people bought the yen following Koizumi's victory and now they're feeling the squeeze. The yen has got about as much as it was going to get from the election result and now people are taking the opportunity to sell.

The market did go up a little on the news but now we're coming back down again because I think the good news is factored in,

The durable goods data could give us some direction but the market is pretty quiet before the big events. I don't think we'll move much before the Fed.

All the market is talking about is Katrina, what it means and is the Fed going to pause. It's just relentless at the moment, it's just dollar selling.

The mandate for Koizumi is stronger than many had anticipated,