For-ex is a six trillion dollars a DAY industry. If you think actual business needs that volume to buy and sell real goods, well, I have a bridge for you to buy.
Most for-ex trading is speculative, what I would call gambling.
And its based on there never being a realistic value.
A very conservative view would be 4 trillion a day is being traded based on the dollar being volatile.
Thats a much bigger force than any possible thing the argentine government could do.
Now obviously, the giant for-ex machine doesn’t care that much specifically about Argentina, but most of the trading is done online by sophisticated progams that justlook for the opportunity to make a fraction of a percent.
So the very idea of a realistic value is determined by “ to who” ?
Many very large players profit from change, and, to quote Warren Zevon, they dont care who gets hurt.