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USDJPY Jumps 60 pips In Seconds On Apparent Intervention
While we have no confirmation yet, the USDJPY juts jumped by 60 pips from post-earthquake low levels to 81.20 on what appears a Bank of Japan intervention. The last time we had confirmed intervention was on October 31 last year, when the pair was trading at 52 week lows of 81.30. 30 pips from the previous trigger point would makes sense for Shirakawa to say "enough." If this was indeed an intervention, we hope to bring you just how much USD the BOJ purchased. Indicatively, in 2010 each intervention cost the BOJ a few hundred million. And with the effect already wearing off, the half life (pardon the bad pun) on interventions is now the lowest it has ever been.
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What a connected world we live in.
I put some of my retirement into AGQ yesterday for the first time, and it's now down almost 9%.
Silver bitchez!
michele carouso cabrerra (hate bitches w hyphenated names) looks like see had a face transplant.
It don't help bitch! You can't fix stupid!
michele carouso cabrerra (hate bitches w hyphenated names) looks like see had a face transplant.
It don't help bitch! You can't fix stupid!
michele carouso cabrerra (hate bitches w hyphenated names) looks like see had a face transplant.
It don't help bitch! You can't fix stupid!
yes, we've heard. So, did she not enjoy "Behind the Green Door" when you took her on that first date, or what?
This yen buying wont continue in my opinion, it really does makes no sense now. OK we had some repatriation flows but when they wear off i can see it sliding, a lot. The whole flight to safety thing deserves a rethink, since the country is in meltdown and all that!
Think of all the yen that is going to be spent in the rebuilding process though. It makes sense especially since exports will be down in the near term.
Exactly, yen being spent on raw materials which they have absolutely none of!
I think they may spend some of those foreign reserves and treasury holdings to buy the raw materials.
labor is almost always the largest cost.
Outside of the CHF, I see nothing that is working as a flight to safety play. The market is in liquidation mode. Just as soon as stupid, last in, hockey helmet wearing NYSE brokers recommence selling the Roach Motel [SPY], it should become apparent.
Buy VXX before it gets back through $36.
it's gonna be a tough to keep the /ES above 1270 if the USD ticks up. Notice how every time the /Es threatens to break below 1270 it is quickly corrected by shanking the USD.
http://tfmetalsreport.blogspot.com/2011/03/patience.html
woosh.. blink and you missed it. short scalp missed.. here's hoping for a repeat.
It happened last night as well. 2300 EST the USDJPY took off and then lost all night. THis intervention will not hold either.
60-pips on an intervention or rumour of intervention? Prolly not.
More like the rumour that crossed the wire that the Nikkei would be down for the rest of the week, meaning that the Japanese markets wouldn't suffer any further losses.
Last time there was a real intervention, the USDJPY pair jumped over 300-pips. That would be more expected.
:D
You have always been a sharp tool in this shed.
But i would take a step back from the manic FX market.
There are deeper issues at play such as: what does one do with liabilities and derivatives holdings.
Whales are vary slow moving and so are giraffes on the savana. Best to keep things quiet and conduct business on the private market. In my most humble of opinion's.
Fast and furious. :)
In that case, you should get long USDJPY before the Fed announcement.
:D
I was expecting a bounce off 80.62, but not that much.
Meanwhile shares of German companies in the business of alternative energy seeing gains of up to 80 %.
Conergy: +85 %
Solarworld: +16,25 %
Nordex: +13,47 %
Q-Cells: +11,08 %
Magnetic ink supplies are being airlifted in to BOJ.
The dollar is getting crushed today. It has given back almost everything from last night. I think it happily accepted those few minutes of life.
Shh the dollar is like a library, has everything you dont want and some of what you need.
For many over 60 the dollar is more then paper and less then gold. It's more stable then nothing when thats all thats left.
The US is its people as much as its people are stable.
See the dollar not as a price, but as a; personality.
A rural personality. Opening doors and welcoming to strangers. This is the dollars "street cred".
The Fed is abuseing it; still it remains. Good luck.
Cryptic 4X.
I don't know why, but I kinda like it!
Looks like the Japanese are starting to think of unloading US bonds, was only a matter of time.
http://goldandsilverlinings.com/?p=246
....and the EUR/USD back over $1.40....can you say ouch!
Watch the touch of the declining trendline. When it hits, sell AUDUSD hand-over-fist.
:D
Still playing that aud/usd dive? I think you got your drop a day early. What happens if eur/usd breaks up on that 1.4050 level and blows out those stops? The eur/aud leg has been intereresting!
Still waiting. Good thing is I'll have plenty of time to get in when it does happen.
:D
Good for you. Just don't fade the trade. I got some to. eur/aud.
Thank goodness politicians believe in free markets and let them do their work (NOT!).