DislikedWho knows? What do you base my underestimation on? Lets see some math???
3.5 trillion a day... its alot more than the last time BOJ intervened. Aswell last time it was a coordinated attack. This time they are on their own... probably against their allies. In a currency war who would win? The one with the quickest printing press of course would be the last standing or the first one to declare war so they can print more.
Again anytime you spike a market it only heads the opposite way esp with the automated strategies nowadays.
JagIgnored
The quickest printing press would win?.....I think not. Obama has to start from 0. BOJ has a huge amount they an spend right now, while the printing presses are gearing up!!
Even though Japan will have to go it alone, and even though the long term outlook for such intervetion is unlikely to succeed, between the Japanese govt and BOJ, if they get their shit together they stand a fighting chance of winning.....don't forget the overall state of their economy is one step away from beeing right in the shit completely. Once the focus goes on that fact, and tears itself away from looking at USA and EZ, you'll see the Yen at 10,00 plus. Now, if the Japan govt and BOJ together start selling Yen g r a d u a l l y......and make lot's of noise about their huge debt etc etc, they stand a chance at pulling this off.
If they just sell shitloads of Yen and drop the yen a couple of hundred pips, they will fail....they know this because they just saw it fail!!
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