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Indymac bank collapse

Discussion in 'General Forex Talk' started by jvaustintx, Jul 12, 2008.

  1. jvaustintx

    jvaustintx Private

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    This article on the Indymac take over by federal regulators on Fri. was just released 7/12/08 10:58am EDT and can be read on the following link:

    The rise and fall of IndyMac - Jul. 12, 2008

    I suppose that it should hardly come as a surprise, given the state of U.S. economy, but what do any of y'all think this will mean to the USD come FX opening on Sunday? I mean, after all, the USD has been taking a beating, oh for what, the last 6 years? but how low can the value of USD actually go? I would love to hear everyone's thought on this.:(
     
  2. Pharaoh

    Pharaoh Colonel

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    It depends on how many of the big traders expected something like this. If enough people consider this to be a complete surprise, I'd expect the dollar to take a major plunge. If the bulk of large traders consider it to be just another expected sign of weakness, then the dollar will probably lose some, but not too much.
     

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