JPY 01 (May 08 - Oct 11)

[kennynah]

japan reserves hit all time high of usd1.1trillion in sept2010


so, dont worry...they have lots of money to burn....

[kennynah]

you can never really trust politicians' words

*********************************

Japan 'Won't Join Currency War' 10/7/2010 3:04 AM ET
(RTTNews) - Japan won't drastically weaken the yen to boost exports and will only intervene in the currency markets to prevent excessive moves, the country's vice finance minister Fumihiko Igarashi was quoted as saying on Thursday.

In an interview with Bloomberg, Igarashi said it was not Japan's intention to engage in a currency devaluation race and it only plans to conduct "smoothing" operations when the yen swings wildly in value.

Talk of an impending international "currency war" has picked up ever since Brazilian finance minister Guido Mantega warned last month that a currency war would adversely affect Brazil's economy.

Japan recently intervened in the currency market to reduce the value of the yen, while Switzerland sold francs earlier in the year.

by RTT Staff Writer

[winston]

81.82 now. How much tax-payers money have those "experts" lost already ?

[winston]

81.78 now.

And why should tax-payer's money be spent, to support the profits of private companies ?

If the exporters are afraid of a higher Yen, they can always hedged themselves in the currency market.

Could it be that they are intervening because they are actually trying to save Mrs Watanabe rather than the Exporters ?

Mrs Watanabe have been buying a lot of foreign currencies on 3x margin and have now lost a lot of money....

[winston]

81.43 now.

And where are those American Newsletters asking you to short the JPY because of the aging population, the high government debts, the lost generation etc.. ?

[kennynah]

my suspicion is thatthe japanese govt never did sell yen in open fx market... ie, it was a bluff...

[winston]

Well, these "experts" have wasted a lot of tax-payer's money. What else is new ?

[ichew]

http://www.marketwatch.com/story/dollar ... 2010-10-21
today yen moved becos geithner said something
then moved back after mkt digested it
but in tat 15min, i wonder how many were caught in the wrong direction
think this is the 3rd or 4th time liao

[kennynah]

I gave up casino-ing on this fx.. screwed me once or twice... No give chance for it to mess me up again... But one day, I'm sure I hv my day with it ... one day. Hahaha

[winston]

JPY spiking up now 1%. Looks like somebody is playing it.

Hoped that the Japanese government is not trying to intervene else they will lose a few more billions, which could be put to better use by providing some housing to their homeless.