Much has changed since my first stint in the New York Fed’s Foreign Department. U.S. daily currency market turnover then was less than $3 billion, whereas global turnover now exceeds $3 trillion per day. Currency quotes in 1975 would be posted hourly on a blackboard in the N.Y. Fed trading room. Now trades are made, quotes read, and analysis seen instantly with the click of a computer key. I’ve seen the dollar range as high as 3.478 against the D-mark in February 1985 and as low as the euro-translation value of 1.2195 earlier this year. I’ve watched dollar/yen range between 308 and 79.85. In the co-habital evolution of telecommunications and global currency markets, I am ready for the next frontier, which is why I am launching this blog.
Friday, March 1, 2013
Currency Thoughts (Larry Greenberg)
Much has changed since my first stint in the New York Fed’s Foreign Department. U.S. daily currency market turnover then was less than $3 billion, whereas global turnover now exceeds $3 trillion per day. Currency quotes in 1975 would be posted hourly on a blackboard in the N.Y. Fed trading room. Now trades are made, quotes read, and analysis seen instantly with the click of a computer key. I’ve seen the dollar range as high as 3.478 against the D-mark in February 1985 and as low as the euro-translation value of 1.2195 earlier this year. I’ve watched dollar/yen range between 308 and 79.85. In the co-habital evolution of telecommunications and global currency markets, I am ready for the next frontier, which is why I am launching this blog.
Subscribe to:
Post Comments (Atom)
Currency Thoughts
ReplyDeleteby Larry Greenberg
http://currencythoughts.com/
(s.k.) Unlike most economists, he is honest and consistent in his sayings. As a result, I feel that most of what he said has happened. Unfortunately I do not have enough ability to understand his sayings.
ReplyDelete