DislikedWow, glad I was asleep on this. I see the spike down, would have been pissed lolIgnored
"Should reflect fundamentals, but since it's not moving the way WE WANT, then I'll go to the wires to PUSH IT"... Last time we saw UJ from 119.82 to 117.80 non-stop. IT WORKS and IT GETS US OFF-GUARD
Trichet, Junker and all the G7s are doing this....
They should get the first flight to Tokyo, put Fukui in a room and kick his ass to raise rates, if they find Japan fundamentals should provide a stronger Yen.
Problems Europe is with high inflationary pressure, forcing rate hikes and then providing awsome deal to carry trades, pressing Yen down and pushing stock market to the roof (bubble?). And Japan is all but worried about that.
Better keep eyes wide open while holding a Yen position with UJ above 119 from now on...