By Associate Editor David Stevenson Aug 29, 2008
"...So what's been driving the dollar strength, then?
One observer reckons it's all about closet market intervention. "Step from the shadows the Plunge Protection Team (formerly best known as the President's Working Group on Financial Markets)", says Jeremy Batstone at Charles Stanley. "The existence of this group was periodically rumoured to have lain behind occasional bouts of market "manipulation" always on the outer limits of financial market legality. Now the Grouping has official sanction and its role as a market stabiliser enhanced".
In other words, the broker reckons it's all a fix, and that the recent move "smacks of aggressive intervention in the currency markets..."
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