Others speculated on currency forward contracts, which have jumped in value on Monday.
So pessimistic are traders about that currency that the forward is priced at a 9% discount to the spot rate.
He was known as a pro-European who committed Italy to European integration and helped forge the way forward to a single currency.
On September 28th it formally proposed a financial-transactions tax (FTT), otherwise known as a Tobin tax after James Tobin, a Nobel economics laureate who put forward a similar scheme for currency markets in 1972 or a Robin Hood tax by those who want to use the proceeds for aid purposes.
And despite a lack of definite agreement, he said that an "important step forward" had been taken to resolve the currency wars threatening global economic growth.
They include not just the launch of the single currency but also the agriculture and regional-aid reforms put forward in Agenda 2000.
Yet in fact money is a creature of the state, and when our debts are denominated in our own currency those accounting numbers mean nothing in and of itself going forward, functionally speaking.
Although investors may eventually cool towards Miss Megawati as well, the currency leapt the day she was sworn in, as Indonesia looked forward to a little less volatility.
But that will be counterbalanced by a new squeeze on liquidity: a 90-day freeze on forward foreign exchange contracts, which will leave companies scrambling for hard currency to pay their overseas suppliers.
And going forward into a world of little economic growth, where money printing and debasing the currency is the standard, I only want to own companies that consistently grow free cash and use that cash to shrink the float.
FORBES: Buy Float Shrink And Tech Stocks Whether Market Cracks Or Not
Many of London's currency dealers have retooled themselves to trade more sophisticated products, such as interest-rate swaps and forward rate agreements.
The 12-month (notional) forward rate for the yuan is currently betting on a 5.5% revaluation of the currency over the next year.
应用推荐