JPY

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Japanese Yen Discussion (JPY)

 

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[flower]

As an illustration of how many countries are starting to actively debase their currencies see what Japan did two nights ago as they intervened in the forex market.

 

Balance of probabilities is that the US will be the next---yet again.

 

Littlle wonder that USD Gold is reacting the way it is.

[blueice]

And the last time the Japanese did that was in 2004, it would be interesting to see the market reaction to that when it happened and afterward. The Japanese acted unilaterally.

Is anybody able to post a chart of the market reaction from 2004????????? Just for interest and curiosity that's all...................

[Barra]

Looks like the G7 are stepping in to help out Japan here.

 

Massive spike from 79.2 to over 81 this morning and you would think they will be determined to hold it up for a while and work it back above US 82c by the close tomorrow morning.

 

The central banks don't muck around when they collectively put their shoulders to the wheel.

 

And when the pressure from repatriation of funds ebbs it could go alot further as it was weakening vs USD before the earthquake.

 

Hope it works a bit like post Kobe as I am short from 79c

[Duster]

Short yen - long dollar, if I were to play currencies, but I can lose enough here without diversifing ........ lol

[flower]

Is anybody able to post a chart of the market reaction from 2004?????????

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--which market?

[Barra]

http://finance.yahoo.com/echarts?s=USDJPY=...ource=undefined

[flower]

No Probs---Yen-- circa 2004 ---it rose approx 14% over the next 3 years.

[flower]

The Group of Seven jointly intervened in the foreign exchange market for the first time in more than a decade after JapanÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s currency soared, threatening its recovery from the March 11 earthquake.

 

Japan began the effort, with EuropeÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s central banks following up in their markets, sending the currency down the most against the dollar since 2008. JapanÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s Vice Finance Minister Fumihiko Igarashi said in an interview that he hoped the action would put a floor under the dollar-yen rate. G-7 finance chiefs said in a joint statement after a conference call they will ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“provide any needed cooperationÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ with Japan.

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http://www.bloomberg.com/news/2011-03-18/g...e-recovery.html

[Barra]

Looks like 80c is the line of defense for now...glad I closed out shorts early last night. Took a new short Yen/USD at 80.5c this morning and just as I was questioning the wisdom of that and about to close it we had a power cut and internet dropped out..

Back on now obviously but the markets are closed.

 

Hopefully there will be another burst of YEN selling on Monday morning.

 

Flower , did you look back to 1995?