Tumultuous Week for Asia's Currencies

The herd mentality of traders in the currency markets was yet again on display this past week as the US dollar soared and stock markets collapsed in the wake of the gloomy outlook painted by the US Federal Reserve. The players in these markets appear to have minimal knowledge of the actual conditions prevailing or knowing the difference between for example Korea and Indonesia. It is no wonder that supposed experts like UBS lose billions through ineptitude when they entrust clients’ money to kids almost straight out of college.

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