JPY does not react to news very much. However, today, there was a horde of negative JPY news, JPY fell off its seat; USDJPY rose to 118.70s, EURJPY rose to record 150.70s and GBPJPY to record 224.30s.
Later A Japanese leader came out:
EURJPY were disposed bringing down EUR and GBP down! EURUSD and GBPUSD went down... that hurts my LONG GBPUSD position!
Last month, there was a similar thing happened. And earlier last week, NZD minister visted Japan and commented on Carry Trades affecting NZD; NZ wants their money to fall so they can be competitive in the export. JPY strengthen immediately!
Next time, I will remember to take careful note that Leaders/Politicians affect JPY more than news. Whenever thery speak, shoot!
Later A Japanese leader came out:
(JP) TOP JAPANESE CURRENCY OFFICIAL WATANABE: DOES NOT EXPECT FURTHER YEN WEAKNESS; DOES NOT EXPECT YEN CARRY TRADE TO CAUSE SWINGS IN FX MARKET
EURJPY were disposed bringing down EUR and GBP down! EURUSD and GBPUSD went down... that hurts my LONG GBPUSD position!
Last month, there was a similar thing happened. And earlier last week, NZD minister visted Japan and commented on Carry Trades affecting NZD; NZ wants their money to fall so they can be competitive in the export. JPY strengthen immediately!
Next time, I will remember to take careful note that Leaders/Politicians affect JPY more than news. Whenever thery speak, shoot!
