Wednesday, November 3, 2010

JPY: Yen - the only major currency weakening against the dollar today

Yen - the only major currency weakening against the dollar since the closing in New York on Friday. Bank of Japan pushed the meeting and most likely will act in response to the QE2, after the Fed meeting. Nevertheless, given their actions last week, detailing the procurement of a number of assets, including ETF and REIT, space for further announcements of policy actions is very small. Greater attention paid to the possible monetary response, especially if the statement the Fed to push a couple of USD / JPY below the level of 80.00 on a permanent basis. Meanwhile, the yen did not get any traction from the strong Nikkei on Wednesday. The main index of Tokyo was the only major, are in negative territory last month.

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