USD/YEN now at lowest level since WWII

Wednesday, Mar 16 2011 by
4
USDYEN now at lowest level since WWII

I don't really follow currencies closely but this one has peaked my interest. It's now at its lowest level (in terms of dollar value) since WWII (78.2 and moving all over the place having been as low as 76.4 as stops no doubt got hit) as I type.

The considered view is that the BoJ are likely to start buying around 80 USD/YEN to protect their exporters and have history of doing this regularly thus this could be a neat short term trade.

Against that is the clear repatriation of funds taking place due to the Japanese disaster.

Google News (on USD/Yen news) :

http://tinyurl.com/6ybyl5v


Filed Under: Currencies, Yen,

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1 Comment on this Article show/hide all

nigelpm 23rd Aug '11 1 of 1
1

Back down at 76.7 again and with the BoJ "hovering over the buy button" seems worth a punt once again.

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About nigelpm

Nigelpm

Investor/speculator mainly in UK equities


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