Wednesday, Jun 27, 2007
Looks like the grannies are buying back the Yen quick while they still have a profit in their trades
nikkei.net: INSIDE VIEW: MOF No Longer Sees Weak Yen As 'Acceptable'
INSIDE VIEW: MOF No Longer Sees Weak Yen As 'Acceptable'TOKYO (Nikkei)--Growing concern over the weak yen has caused Japanese monetary authorities to quietly shift their stance on yen-dollar rates to being "watchful," after long deeming them as "acceptable."
The change in policy indicates that the Ministry of Finance is not only concerned about mounting pressure from foreign countries to strengthen the yen, but is also worried that further weakness in the currency may reduce Japan's
global competitiveness.
Posted by crazy housewives @ 12:27 AM (149 views) Add Comment
2 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. royston said...
I'm watching the USDJPY rate. The yen is strengthening steadily at the moment. Not quite as fast as I expected - just under ½% per day. I suspect the Bank of Japan are managing the transition - but the direction is unmistakable - the carry trade is unraveling!
2. Stoatgobbler said...
Hmmm. The same JPY that has 'strengthened' all the way from 116 in March to 124 a couple of days ago? Get a grip.