OH THIS IS PERFECT, YEN CAUGHT THE BID INSTEAD

12:02pm
6j - yen fut / 60

problem is, export dependent japan is much more likely to openly and aggressively retaliate. in this case though, knowing who's behind the attack, boj may imo, not only sell massive yen, but buy some euro as a warning not to try it again




1:31pm



look at them fighting back. the protectionist wars are on. socialist euroland is most vulnerable... political doom




look, of course i cant prove it. but as a long time fx fanatic, i strongly suspect that it was a european money center bank(s) that did the drive-by on the yen. and you know who's calling the shots there. nothing worse in recessionary times than an exchange rate disadvantage.. no profitable (and taxable) export biz during, last to get relief when it turns. i mean w/o huge subsidies how would a german manufacturer compete for china's trade when in effect japan can sell a comparable product for what it cost to produce in germany?! also political suicide, because even lefties will vote their pocketbooks in the end. nah, too big for comrade soros, too real world vicious for the ecb / boe to risk. it was a gov controlled bank. and you can bet our a- #1 capitalist bros will instantly suspect the same thing

they'll all have to eventually go to the managed float against usd and maybe jpy. but this, this was real cowboy stuff. didn't think they had it in'em, even through a proxy
*clap... clap... clap*



2:49pm
usd uup / daily


meanwhile, after another huge and wildly successful debt auction.. almost no upside move for usd ;)