Early tonight i had a bit of a hissy fit about the constant futures buying, looks like that was a bit of foreshadowing as Japan has intervened once again weakening their currency nearly 1% .. "nothing to see here, move along" .. Looks like all is not well on the Pacific rim....
(Bloomberg writes) “There’s rumors of intervention,” said Adrian Foster, head of financial-markets research for Asia at Rabobank Groep NV in Hong Kong. “The low 80s appear to be their broad line in the sand. They’ve got an awful lot of bullets to fire.”
The yen dropped 0.7 percent to 84.94 per dollar as of 6:21 a.m. in London from 84.38 in New York yesterday, after earlier falling as much as 1.1 percent, the most since Japan intervened on Sept. 15. The currency weakened 0.9 percent to 113.31 per euro. The dollar fell to $1.3335 per euro from $1.3314.
By Sell Puts
