if so then the yen sells off and heads for 100 or higher
check this out........
The US Banks have gotten net long of gold in this last report.
http://jessescrossroadscafe.blogspot...icipation.html
"Since the BPR of February 5, the US bank category position (in effect, almost exclusively JPMorgan) has swung by a net 100,000 GOLD contracts, from net short 70,000 contracts to net long 30,000 contracts (all rounded). There has never been a move of such magnitude before. Over that same time, the total net commercial short position (in the COT) declined by 113,000 contracts, meaning that JPMorgan accounted for almost 90% of the entire commercial decline.
JPMorgan’s emergence as the big COMEX gold long changes the dynamic of the gold market. In addition to .......... it confirms the extremely bullish set up for the gold price..."
next FOMC Wednesday June 19th........St Louis FED President is Bullard is out on the hustings giving speeches about no inflation and this is not the time to 'taper' QE...(Bullard is also a Hawk, believe that or not)
there are some nuances in Bullard's speeches but Bullard is definitely getting PRESS so i think the message is NO TAPER...........if right then maybe another opportunity to sell the dollar higher
up or down, either way, probably another marvelous opportunity to make a killing coming up soon
watching US bond yields pretty close too........
