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Forex Forum Archive for 01/26/2013

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HK [email protected] 23:57 GMT January 26, 2013
How much is 700 pips down from 91.19 hmmmm


oumay have to dig in the archives, but I had once one of his articles, which can't find it right now.

hk ab 23:38 GMT January 26, 2013

what a lying country......

Are their memories that bad to forget the "B"s they used to defend dlr/jpy floort at 76-78?

This somehow tells the integrity of this nation.....

They can lie with their eyes wide open.

hk ab 23:27 GMT January 26, 2013
How much is 700 pips down from 91.19 hmmmm

When did bc say that?

GVI Forex 21:12 GMT January 26, 2013
* Japan economy minister says not trying to weaken yen

* Amari says no breach of central bank independence

* South Korea central banker criticises Japan policy

UPDATE 1-Japan defends stimulus, yen policy under fire

hk ab 20:49 GMT January 26, 2013
How much is 700 pips down from 91.19 hmmmm

Although I wasn't a trader in 1998, but I was a visitor to Japan during that famous 14 fig move over about 5 days period.....down from 130 to 116 if I remember correctly.........

HK [email protected] 19:13 GMT January 26, 2013
Japan’s Amari Says Markets Set Currencies Amid Yen Criticism
Economy Minister Akira Amari denied Japan’s new government is actively targeting a weaker yen, taking to the international stage to argue that economic policy is instead aimed at defeating deflation.
Japan is “absolutely not deviating from global standards,” Amari told the World Economic Forum’s annual meeting in Davos, Switzerland today. “I don’t comment on a foreign-exchange rate because it should be determined by the market. What we do is to implement policies.”
Amari spoke at the end of a week in which German and Canadian policy makers joined a worldwide chorus highlighting a recent plunge in the yen as a worry. The currency has declined to its lowest against the dollar since June 2010 as Prime Minister Shinzo Abe pushes for easier monetary policy.
That strategy has sparked criticism that Abe is trying to weaken the yen to stoke exports, breaching a pledge by Group of 20 economies not to competitively devalue exchange rates for fear of sparking a so-called currency war.
“The Abe administration attaches its highest priority to exiting from prolonged deflation partly accompanied by the appreciation of the yen, and revitalizing the economy,” Amari said.
“Many nations(? WHICH) said they welcome and support Japan’s new measures,” he told reporters. “Misunderstandings held by a small group of people have been cleared up.”

HK [email protected] 18:41 GMT January 26, 2013
How much is 700 pips down from 91.19 hmmmm


CORRECTION::: Wow it is 84.19 NOT :(Wow it is 54.19)

HK [email protected] 14:24 GMT January 26, 2013
How much is 700 pips down from 91.19 hmmmm
Wow it is 54.19 TskTsk... close to March 21/2012 Hi(84.17) and about 50% Ret.(84.15) from 77.12 low, the start of this wave.
Just remember the 700pips bc mentioned upon a time.
With this Hi record of shorts, better tighten your sit belt.

HK [email protected] 14:05 GMT January 26, 2013
That's something new! BOJ Bactracks! 2%? NOT 1% OK.

Possibly a market mover piece.

Those short on yen, may not be in the best position on Monday.

HK [email protected] 13:55 GMT January 26, 2013
That's something new! BOJ Bactracks! 2%? NOT 1% OK.
Bank of Japan Governor Masaaki Shirakawa says the new inflation target that his organization set earlier this week would be difficult to achieve unless the country undergoes tough economic reforms.

Shirakawa said the BOJ would seek 1% inflation “for the time being” just days after it had adopted a two-percent target under pressure from the government.

The 2% goal was set on Tuesday when the BOJ also launched an open-ended easing plan to start next year, following a relentless campaign by Prime Minister Shinzo Abe for the bank to usher in more aggressive policy measures.

Abe hailed Tuesday’s move, designed to beat Japan’s long-running deflation, as an “epoch-making” shift in setting monetary policy.

But Shirakawa’s comments Friday appeared to push back once more against the 2% inflation target.

“For the Bank of Japan, ‘price stability’ means the positive area between 2% (inflation) and zero. The bank will seek 1% for the time being,” Shirakawa told the National Press Club in Tokyo on Friday.

“It will take radical efforts from…the government, central bank and the private sector in order to achieve the 2% inflation target.”

Tensions have run high between BOJ policymakers and Abe’s administration, with the 58-year-old premier having openly said he would like to turf out Shirakawa, whose term ends in April, and threatening to change a law mandating the bank’s independence if it does not fall into line.

The bank on Tuesday said switching from an inflation “goal” to a more explicit “target”, and aiming for a 2% inflation rate instead of the 1% it had earlier promoted, was driven by the “importance of flexibility in the conduct of monetary policy in Japan.”

However, Shirakawa and Abe, who swept to power last month in landslide elections, butted heads on policy matters and the move was widely viewed as the under-pressure BOJ bowing to political pressure.

Some economists and analysts have pointed to structural reforms of the economy as being key to solving Japan’s woes, and cast doubt on the likelihood of achieving the new inflation target when the world’s third-largest economy has been stuck in a deflationary rut for years.

“I would say that not even half of market players actually believe the 2% target can really be achieved,” said Tsuyoshi Ueno, a senior economist at the NLI Research Institute in Tokyo.

Others noted that the plan may be more show than substance, with London-based Capital Economics saying that the vague timeline for the BOJ’s “ambitious” inflation target “makes that commitment much less bold.”

GVI Forex john bland 13:01 GMT January 26, 2013
Forex Trading Theme for the Week

-- GVI Forex Trading Theme of the Week--

Forex markets have seen needed volatility return in the latest week. Japan continues to favor a weakening of the JPY as one of several means to encourage economic growth. We feel Tokyo has no choice than to pursue all avenues for stimulating growth and will continue to do so. We expect they will increasingly encounter push back from players such as Germany that we saw this week. Its unclear what the U.S. currency policy is, or even if there even if there is one. Europe needs to be competitive if it wants to stimulate growth in the peripheral states and at some point should try to cap the gains in tne EUR. With Geithner having left his job as Treasury Secretary on Friday, markets will need a little time to get used to new Treasury Secretary Lew.

Following a quiet Monday, the global economic calendar will be very active for the balance of the week. Consumer Confidence data from the U.S. on Tuesday will be closely followed. Wednesday will see the key U.S. AD p January monthly private payroll data and revised 4Q12 U.S. GDP. Later in the day, the results of the two-day FOMC meeting is slated. The latest RBNZ is will be released later. No rate changes are expected in either case. Weekly U.S. jobless data are due on Thursday. Markets will be very interested to see if the recent improvements in claims will be sustained. Friday will see the January U.S. employment data and the first wave of the final monthly PMI reports. For additional key items and detail (dates, times, data estimates) visit the Global-View Economic Calendar and the Forex Forum as key items are released.

-- John M. Bland,

HK [email protected] 12:27 GMT January 26, 2013
January's Currency Story: JPY -- a DISCUSSION thread

So maybe soon a nuclear test courtesy of N.Korea with a China "no see policy", this will make Japan recoil high.

ed kw 08:06 GMT January 26, 2013
January's Currency Story: JPY -- a DISCUSSION thread

Currency War Accusations Against Japan … Aso Responds: “Talk To The Hand”


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