The Yen went from 92.6 to 98 per US Dollar yesterday. Overnight it moved from 98 to 100.That was the nice round figure as of 08.40 BST today, Friday: and is, I understand, the BOJ’s target.
Clearly, the threat of thermo-nuclear conflict is good for exports.
First thing today, the Swiss Central Bank reacted, and piled in to ensure the SF lost 1.16 centimes against the falling Yen.
It’s a zero sum game, but these blokes are desperate.
Overnight, the Swiss Franc has lost 1.16 centimes against it.
www.hat4uk.wordpress.com / link to original article
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4/05/2013
John Ward – Breaking – Japan: Land Of The Falling Yen – Yen Hits 100 To The Dollar – 5 April 2013
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