Friday, October 15, 2010

USD / JPY: Traders are still anxiously looking towards the Bank of Japan

USD / JPY pair has returned above 81 this morning after a brief fall below that level yesterday to fifteen-year minimum. Traders are still anxiously looking towards the Bank of Japan to the USD / JPY lower level, which was launched a large-scale intervention in the last month. Nevertheless, the Bank of Japan will be difficult to hold a new intervention, given the increased international attention to this subject and claims of Japan to China and Korea earlier this week. If the dollar does not get easier, then it will be difficult to predict, which may make the Bank of Japan to prevent the achievement of the pair USD / JPY of 80 in the short term.

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