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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 1558
Posted: Feb 22, 2010 5:00
Comments: 1558
Forum Topic:
JPY
Discuss JPY
Pressure on risk appetite to benefit the #1 safe haven Yen due to
Suspiciously lenient EU bank stress tests to boost risk aversion and safety currencies like the JPY, as the tests raise the likelihood of more negative surprises from EU banks
Warnings from Bernanke on risks of slowing US growth
Waning affects of US earnings season as good results now priced in
Other potentially bearish market movers for the coming week as noted above
Rising Yen over the past year threatens Japanese exports and thus economic recovery. BoJ verbal intervention becoming more likely as rising JPY hurts exports
Improving spending and growth data balanced by deflation threat
Just what I was waiting for. However, last bottom was 13.4, going 13.3 then possibly higher. Let's see.
Ashraf
Any predictions on where to sell JPY/NOK? See it have a hard time to go below 0.0700
Regards
you read my rational yesterdays IMT why favouring shorts in GBPJPY rather than EURJPY. GBPJPY down 100 pips and more to come towards 132.
Ashraf
Thx
Ashraf
Ashraf
S&P can only downgrade, I think, Japan's sovereign credit ratings which is rated AA .
That wouldn't have much effect as Japanese are the vast majority of Jap sov bonds holders.