ok... closed another scalp... +20 jijijij
- #15,785
- Jun 26, 2007 4:32am Jun 26, 2007 4:32am
- Joined Jan 2007 | Status: Trader | 1,407 Posts
USD/JPY looks sexy right now...
Big losser.. is euro... (carry trade, US and UK still wide rate spreads, but EU isn't) EJ, but yen strong tonight vs all others
- #15,789
- Jun 26, 2007 4:45am Jun 26, 2007 4:45am
The Dollar slipped against the Yen on Monday and Tuesday with investors growing nervous about more hedge fund failures related to rising US sub-prime mortgage defaults. In times of increased risk aversion, investors tend to sell high-yielding but risky assets funded by the low-yielding Yen. Analysts said a Merrill Lynch report on Monday suggesting Bear Stearns may have to bail out a second troubled Hedge Fund it manages that invested in risky sub-prime mortgages, fueled nervousness in the currency and stock markets. The investment bank said yesterday it had provided up to $3.2B in secured financing to a fund it manages that was down about 5% through the four months ended April 30.
UsdJpy slipped -0.23% to 123.57, down from Friday's peak of 124.15, which was the highest since December 2002. EurJpy also fell -0.22% to 166.35, having reached a record high of 166.94 the previous session. Euro and Sterling were almost unchanged at 1.3464 and 1.9980. GbpUsd had popped above the 2.0000 mark for the first time in almost two months.
The Yen jumped this morning, pulling away from a 4 ½-year low versus the Dollar hit last week, after Japan's finance minister warned that markets should be aware of the risks of one-way bets against the Japanese currency. The comment by Koji Omi echoed remarks by officials at Group of Seven meetings in the past year referring to carry trades and suggested some concern about the pace of the Yen's slide. In addition, the Bank for International Settlements warned in its annual report last weekend about the risks of carry trades and said there was “clearly something anomalous” about the yen's weakness.
Investors also face a lot of fresh US economic data this week and will pay particular attention to Durable Goods Orders figures for May on Wednesday as well as May Core Personal Consumption Expenditures data on Friday. In addition, the Federal Reserve is expected to leave its benchmark interest rate unchanged at 5.25% rather than cutting them when it concludes a tow-day monetary policy meeting on Thursday. Signs of a rebound in US growth have helped the Dollar recover from a record low against the Euro and the Pound both hit in April.
UsdJpy slipped -0.23% to 123.57, down from Friday's peak of 124.15, which was the highest since December 2002. EurJpy also fell -0.22% to 166.35, having reached a record high of 166.94 the previous session. Euro and Sterling were almost unchanged at 1.3464 and 1.9980. GbpUsd had popped above the 2.0000 mark for the first time in almost two months.
The Yen jumped this morning, pulling away from a 4 ½-year low versus the Dollar hit last week, after Japan's finance minister warned that markets should be aware of the risks of one-way bets against the Japanese currency. The comment by Koji Omi echoed remarks by officials at Group of Seven meetings in the past year referring to carry trades and suggested some concern about the pace of the Yen's slide. In addition, the Bank for International Settlements warned in its annual report last weekend about the risks of carry trades and said there was “clearly something anomalous” about the yen's weakness.
Investors also face a lot of fresh US economic data this week and will pay particular attention to Durable Goods Orders figures for May on Wednesday as well as May Core Personal Consumption Expenditures data on Friday. In addition, the Federal Reserve is expected to leave its benchmark interest rate unchanged at 5.25% rather than cutting them when it concludes a tow-day monetary policy meeting on Thursday. Signs of a rebound in US growth have helped the Dollar recover from a record low against the Euro and the Pound both hit in April.
yeah, you're correct. although one has to remember the Eur/Yen reached an all time high last week. profit-taking?
- #15,793
- Jun 26, 2007 5:06am Jun 26, 2007 5:06am
Me too.
The inlation in US isn't under control... so a reduction in rate can be very dangerous. But house's sector is too bad (worst in US economy today... and a cut rate can help... Mr. Greenspan is guilty, this man create the bubble house cutting several times the rate
The inlation in US isn't under control... so a reduction in rate can be very dangerous. But house's sector is too bad (worst in US economy today... and a cut rate can help... Mr. Greenspan is guilty, this man create the bubble house cutting several times the rate
interesting article and analysis - still can't believe we have talk of the fed (as in this article) of even contemplating a reduction in rates. all i see are future rate increases
- #15,796
- Jun 26, 2007 5:57am Jun 26, 2007 5:57am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
THERE WERE PSYCHOPATS THAT STARTED KILLING RANDOMLY FOR MUCH LESS
