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YEN
Mar 28, 2012 21:27:47 GMT -5
Post by Clinton SPX on Mar 28, 2012 21:27:47 GMT -5
This yen chart has a double head and shoulders feel to me Attachments:
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YEN
Mar 29, 2012 20:54:34 GMT -5
Post by Clinton SPX on Mar 29, 2012 20:54:34 GMT -5
dollar Yen sure feels like its rolling over weak yen has hurt PMs (along with other crap) Attachments:
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YEN
Apr 10, 2012 23:41:59 GMT -5
Post by Clinton SPX on Apr 10, 2012 23:41:59 GMT -5
currencies are acting strange lately. I could see the doomsday selloff if BOJ does something stupid like another massive intervention. Attachments:
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YEN
Apr 11, 2012 6:48:07 GMT -5
Post by Clinton SPX on Apr 11, 2012 6:48:07 GMT -5
BOJ worries me
Yen Drops on Speculation BOJ Will Add Easing Measures By Emma Charlton and Monami Yui - Apr 11, 2012 7:17 AM ET
LinkedIn Google +1 0 COMMENTS Print QUEUE Q The euro strengthened from a six- week low against the yen as Spain’s bonds climbed after a board member of the European Central Bank suggested it may buy the nation’s debt to reduce borrowing costs. Europe’s shared currency advanced against the dollar after Italy sold 11 billion euros ($14.4 billion) of bills, meeting the target for the auction. The yen weakened against all but one of its 16 major peers amid speculation the Bank of Japan (8301) will add to monetary easing later this month. The dollar declined as the Federal Reserve prepares to release its Beige Book regional business survey. Britain’s pound climbed after a report showed U.K. retail sales rose in March. Enlarge image Japan’s currency was at 105.67 per euro at 8:31 a.m. in Tokyo from 105.53 yesterday, when it reached 105.49, the strongest since Feb. 22. Photographer: Tomohiro Ohsumi/Bloomberg Play Video April 10 (Bloomberg) -- Geoff Kendrick, head of European currency strategy at Nomura International Plc, discusses the outlook for the euro, dollar, yen and Swiss franc. He speaks with Manus Cranny on Bloomberg Television's "Last Word." (Source: Bloomberg) Play Video April 11 (Bloomberg) -- Steven Saywell, head of foreign-exchange strategy for Europe at BNP Paribas SA, talks about the outlook for the dollar, euro and yen. He speaks with Maryam Nemazee on Bloomberg Television's "The Pulse." (Source: Bloomberg) “Spanish 10-year yields are falling and that’s providing a little bit of support for the euro,” said Jeremy Stretch, head of currency strategy at Canadian Imperial Bank of Commerce in London. “It will probably be short-lived. There are concerns about implementation risk in Italy, Greece and Spain.” The euro advanced 0.7 percent to 106.26 yen at 7:04 a.m. New York time, after falling to 105.45 yen, the weakest since Feb. 22. Europe’s shared currency rose 0.5 percent to $1.3144, after reaching $1.3033 on April 9, the lowest since March 15. The yen declined 0.2 percent to 80.86 per dollar. The euro will probably weaken to $1.26 by June, Stretch said. Markets ‘Nervous’ “Spain shows the markets remain nervous,” ECB Executive Board member Benoit Coeure said at an event in Paris today. “Will the ECB intervene? We have an instrument, the securities markets program, which hasn’t been used recently but it still exists.” The yield on Spain’s 10-year bond fell from the highest since Dec. 12 today. The rate has jumped almost 1 percentage point since March 2, when Prime Minister Mariano Rajoy said the country will miss the 2012 deficit goal approved by the European Union. Rajoy was due to address lawmakers on the nation’s deficit today. “Spain is the center of attention,” said Chris Walker, a currency strategist at UBS AG in London. “Clearly if Spanish yields move much higher that will hamper the euro. We are looking for a move down to $1.25 over three months.” Should Europe’s shared currency break below $1.3033 it may weaken to $1.2975, Ralf Umlauf, head of floor research at Helaba Landesbank Hessen-Thueringen in Frankfurt, wrote in a note to investors. BOJ Meeting The yen has strengthened 2.2 percent in the past week, the best performance among 10 developed-nation currencies tracked by Bloomberg Correlation-Weighted Indexes. The euro and dollar are little changed. Bank of Japan policy makers yesterday kept their key interest rate and asset-purchase plan unchanged, the second- straight meeting without a policy shift. They meet again on April 27. Governor Masaaki Shirakawa and his board unexpectedly expanded bond purchases by 10 trillion yen on Feb. 14 while setting an inflation goal of 1 percent. Nomura Holdings Inc., SMBC Nikko Securities Inc. and NLI Research Institute Ltd. expect the BOJ to expand the program at the next meeting to help meet the price target. “There’s definitely a reasonable chance” the BOJ will do more later this month, said Sacha Tihanyi, a senior currency strategist in Hong Kong at Scotiabank, a unit of Bank of Nova Scotia. (BNS) Monetary easing by Japan’s central bank “fundamentally undermines the yen,” he said. U.K. Sales Retail sales at U.K. stores open at least 12 months, measured by value, gained 1.3 percent from a year earlier, after sliding 0.3 percent in February, the London-based British Retail Consortium said today. The pound advanced 0.4 percent to $1.5925, after climbing as much as 0.5 percent, the most since March 30. The Fed bought $2.3 trillion of securities in two rounds of so-called quantitative easing, or QE, from December 2008 to June 2011, and has pledged to keep interest rates low through late 2014. It will hold off on increasing monetary accommodation unless the U.S. economic expansion falters or prices rise at a rate slower than its target, according to minutes of the Fed’s March 13 meeting released last week. The Dollar Index (DXY), which Intercontinental Exchange Inc. uses to track the currency against those of six major trading partners, declined 0.3 percent to 79.603, after reaching the lowest level since April 4.
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