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dari dbs research

China's intervention in currency markets is of course the source of much 
irritation to US politicians. How much intervention has there been? Since April 
of 2009, when inflows into Asia really started to pick up, China's foreign 
reserves have risen by some $535bn. That's a little more than half (56%) of the 
total increase in foreign reserves ($962bn) by Asia's central banks since then.

That's a lot of inflow and a lot of intervention – $2bn per day to be precise 
and and it works out to some 13% of one year's GDP for Asian economies on 
average. It's easy to see why Asian markets are rising and why Asian currencies 
are rising. And why US politicians are a little piqued.

Since Apr09, inflows have been pouring into Asia to the tune of $2bn
per day. Foreign reserves have risen by $962bn, or 13% of GDP,
significantly faster than any time in history


• It is no coincidence that, over the same time period, the Fed injected 
$1500bn of liquidity into markets via purchases of Treasuries and housing 
securities (MBS and agency paper)
• Washington howls at currency intervention. But quantitative easing
and currency intervention are both just liquidity injections. Who's
really intervening, the Fed or Asia?
• With QE1 inflows not having run their course and QE2 already in the
wings, talk of "one-way bets" in Asian markets is on the rise.




--- In [email protected], "Yohanes" <yoh.can...@...> wrote:
>
> Dear All Seniors.
> 
>  
> 
> Adanya isu perang kurs diantara Negara-negara maju, seperti USA dan China,
> 
> Dollar vs Yuan, dan mungkin juga Negara-negara lain bersiap untuk
> mengikutinya.
> 
>  
> 
> Apakah ada dampaknya terhadap pasar modal. terutama IHSG Jakarta,
> 
> Mohon para senior disini dapat memberikan penjelasan dan pencerahan lebih
> lanjut.
> 
>  
> 
> Regards
> 
> Nubie
>




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