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24 Jan 08

A manager of a large hedge fund based in Hong Kong described yesterday's trading
session in Asia as 'very worrisome.' Big intraday swings in some markets, in
particular, reveal an abiding uncertainty about the health of the global
financial system. 'There is wild volatility, which means no one knows what to
do, and there is no single direction of the market,' the manager said.
Further dollar weakness would hamper Asian exports to the U.S. because American
consumers would be forced to pay higher prices for goods.
1 more annotations...
- The Fed's decision to push rates lower this quickly could exert further downward
  pressure on the dollar.

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