Posted on 03/16/2011 3:36:04 PM PDT by The Magical Mischief Tour
Strong Yen is very advantageous to Japan at current with such a collossal rebuilding effort ahead of them and little in the way of domestic sourcing for materials. If they’re not still too dazed, smart forward thinkers would capitalize and secure contracts now. The pendulum will swing back the other way soon enough.
For it to have hit your stop loss, you must have been short the Swiss Franc and long the dollar. May I ask why?
QE II, sunk by the tsunami. No survivors found in the raging sea.
I thought the pair had hit a bottom (also a record low) at .9125 since it had stalled out there before.
Set my stop loss at .8982, never thinking the Swissy would react so violently in the limited time frame while I left the computer. I was taking my cue from a trading company advisor who also reported he got stopped out as well.
As it turned out, the pair may have hit a bottom around that .8982 range although it did dip lower for about a minute on the initial drop.
Nikkei recovering over 400 off low, back to flat with 30 minutes to close. Everything all fixed up? /sarc
It looks like a bid/ask collapse. Weird because the volume didn’t look to be that heavy.
Based on the current NHK reporting, no, it sounds like the BOJ has coordinated with other central banks to push the yen rate back to over 80 yen to the dollar.
Someone in the media probably started a rumor that the sky was falling in Japan.
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