This is precisely what the BOJ didn’t want, which makes the pin action in the yen all the more beautiful. When the BOJ announced their diabolical schemes to shape the yield curve, the yen had slumped by nearly 1%. Slowly but surely, that faithful, yet boorish, servile reaction has eroded and has finally given way to market forces who know better.
The Yen approaches 100 v the dollar, higher by 0.75%.
Looks like its on Yelens court.
Man if she raises .. lights out!
Gartman just may nail this one
Good olde garty
Just who is bidding the yen? Is it just Mrs. Watanabe and currency gamblers betting against the Kryptonite-irradiated BOJ, or is there something more? Maybe carry traders unwinding as they get their shorts wedgied from BOJ strengthening?