Tax & Financial Consulting Services
Japan Intervenes in the Yen Once Again
Karibu (Welcome) G&G Readers,
Breaking News … I’ve been writing this report for about a week, but I’m on vacation in Mexico and I’m working on Mexican time. As you’ll read, I had this all to go out to get you prepared, but it happened before I could get it out to my readers. No problem though, there is still much more room to go to take advantage of the profits you could gain from jumping into those trades that could benefit from this market trend.
Last night … Japan injected over 10 trillion yen ($126 billion) into the markets and was able to halt the rise of the Japanese yen. The Bank of Japan followed up the intervention with monetary stimulus that totaled double the amount pledged after the March 11 earthquake.
The intervention had the desired impact, as the yen weakened to 80 for the first time since mid July. This 4 percent move vs. the US$ was the largest one day drop since 2008. There is deepening concern out of Japan that the Federal Reserve will be forced into another round of QE, which would put additional pressure on the US$ and cause investors to continue to buy yen. The Japanese were looking to try and move the yen weaker prior to the Fed's meeting next week.
So … continue to read the report I had set to come out to learn how I came up with this move. It’s not rocket science folks, it’s just knowing history and how markets react to different cues.
Everyone wants to stay competitive
Target wants to keep their prices somewhat in line with Wal-Mart. Burger King wants to keep their pricing somewhat in line with McDonalds. Otherwise, they lose customers to their competitors.
The same thing happens in the currency world.
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Until the next time!
Ankh Uja Snb (Life, Health & Strength)
Asar Gary Gray
Tax & Financial Consultant, RFC
866-361-3872 toll free fax
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LEGAL NOTICE: This work is based on SEC filings, current events, interviews, corporate press releases and what I've learned as a financial consultant. Nothing herein should be considered personalized investment advice. It may contain errors and you shouldn't make any investment decision based solely on what you read here. It's your money and your responsibility.