Prime Minister Kan won the elections last night and Yen traders have interpreted his victory to mean a more relaxed approach towards intervention. This may be true when compared to the pro-intervention stance of Ozawa (his challenger) but the rapid appreciation in the Yen against the U.S. dollar AND the Chinese Yuan has also [...]

Posted in 2009 japanese yen, 2009 japanese yen forecast, Currency Intervention, Japanese Yen, forex blog 14 Comments »

Although everyone’s focus is on the Federal Reserve’s interest rate decision this afternoon, we have a lot of action in the European currencies. If you notice, the Euro is one of the few major currencies to under perform the dollar this morning because of the massively well subscribed ECB refinancing. In my daily [...]

Posted in Currency Intervention, Swiss Franc, swiss national bank 2 Comments »

The Swiss National Bank has been intervening in the currency market since March. Unlike other central banks who have failed at intervention, the SNB has done a fantastic job keeping EUR/CHF above 1.50 for the past 3 months. The SNB focuses on EUR/CHF over USD/CHF because the European Union is by far the [...]

Posted in Currency Intervention, EURJPY, Swiss Franc, swiss national bank 1 Comment »

Here’s a clip of the interview that I did with Bloomberg Television last night about where currencies are headed:
Click on the image to watch the video

Posted in Bloomberg, Currency Intervention, Forex, Forex News, Forex Podcast, Forex TV, Japanese Yen, Yen Intervention, forex blog No Comments »

The biggest event risk this week is undoubtedly the Federal Reserve’s monetary policy decision on Wednesday. Now more than ever, the Fed’s decision could turnaround the currency and equity markets. Since the last interest rate cut by the central bank on October 8th, the dollar has rallied more than 8 percent and the [...]

Posted in Currency Intervention, ECB, FOMC, Fed Rate Cut, Fed Rate Cut Expectations, Fed fund futures usdjpy, Federal Reserve, Forex News, Forex Podcast, US Dollar, US Economy, coordinated rate cuts, euro, forex blog No Comments »