by winston » Mon Oct 31, 2011 10:10 am
DJ MARKET TALK: Japan Intervenes In FX Mkt; May Sell More Yen -Dealer
0156 GMT [Dow Jones] There may be another round of massive USD-buying/JPY-selling if the past examples of Japanese intervention offer any guidance, says a senior dealer at a major bank in Asia, after traders believe Japanese authorities stepped into the market with heavy yen-selling intervention a short while ago.
The USD/JPY is at 78.55 from an earlier low of 75.65. The pair hit a fresh post-war low of 75.31 earlier in the day, prompting markets to stay on heightened alert for yen-selling intervention.
Still, it's not clear if the USD/JPY could stay above 80.00 in a mid- to long-term even if the pair is lifted to that level later in the day, the dealer says.
Source: Dow Jones Newswire
It's all about "how much you made when you were right" & "how little you lost when you were wrong"