Again, in my January 1, 2008 post I said:
I do not see the Peso going to 35. I even see it hover around 40"s for the whole year. I also see it weakening to 43 to 45 briefly to scare away short speculators. I saw it happen with the US dollar years back, with the Euro, Yen and others. Be careful.
Today:
The Bangko Sentral ng Pilipinas has revised its assumption on the peso-dollar exchange rate for this year and the next to a range of 42 to 45 to $1 given the more volatile external market conditions caused by the global downturn.
IMO,
This is a signal for a long dollar, and TP once it reach a "certain" price of 43.5 to the dollar, and wait...until it is time to short again because I do not believe the dollar staying and going beyond 45, nor for it to stay below 40. So? Trade the volatility on both sides, hehehe.
--------------
For both Gold and Oil, IMO, its current prices are mostly speculative...so I am staying away.
Ito muna.
I do not see the Peso going to 35. I even see it hover around 40"s for the whole year. I also see it weakening to 43 to 45 briefly to scare away short speculators. I saw it happen with the US dollar years back, with the Euro, Yen and others. Be careful.
Today:
The Bangko Sentral ng Pilipinas has revised its assumption on the peso-dollar exchange rate for this year and the next to a range of 42 to 45 to $1 given the more volatile external market conditions caused by the global downturn.
IMO,
This is a signal for a long dollar, and TP once it reach a "certain" price of 43.5 to the dollar, and wait...until it is time to short again because I do not believe the dollar staying and going beyond 45, nor for it to stay below 40. So? Trade the volatility on both sides, hehehe.
--------------
For both Gold and Oil, IMO, its current prices are mostly speculative...so I am staying away.
Ito muna.