Some food for thought. How much money does Japan need for JPY intervention to have lasting impact on the Yen? According to Deutsche Bank...$500 Billion!
EUR/USD
And finally to wrap up the week, take a look at the EUR/USD trading signals on DFX+. Breakout1, Breakout2, and Momentum2 are long (Breakout2 being on hold).
Have a great weekend!
The yen’s weakness may be short- lived as Japan would need as much as $500 billion to intervene in markets just to match its previous efforts to curb the currency’s strength, according to Deutsche Bank AG.
An intervention of that magnitude will add about 10 percent of gross domestic product to Japan’s record debt level, wrote Deutsche Bank analysts including Bilal Hafeez, its head of currency strategy, in an e-mailed note. The bank based its estimate on previous moves by the Bank of Japan and the size of the currency market.
http://www.bloomberg.com/news/2011-0...bank-says.html
EUR/USD
And finally to wrap up the week, take a look at the EUR/USD trading signals on DFX+. Breakout1, Breakout2, and Momentum2 are long (Breakout2 being on hold).
http://img853.imageshack.us/img853/7...01120724pm.png
Have a great weekend!