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dasteksys

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Posts posted by dasteksys

  1. Coming into this past week I was looking for the October intervention highs of 79.53 to break. That happened. And for USDJPY to surpass the August BOJ intervention induced highs of 80.24 99 (the first red line) -- which it did. Given the confusion surrounding Europe and the euro, market participants have indeed gotten excited about the yen trade. They've made money in it. And they continue to build big positions in the theme of a major trend change here. It all boils down the BOJ policy changes from Feb 14. The biggest deal: they set an inflation "expectation" – with that, they vowed to print yen until they dig their way out of deflation and hit a target of 1% inflation. That's a clear enough message to get big players very excited to establish big short yen positions.
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