To all you currency market watchers out there, how about that yen/dollar exchange rate? The yen is flying against the buck, moving up by as much as 3 yen or so to 91.81 (The chart above shows the yen futures). On a percentage basis, this is the biggest gain for the yen that I can find on any day since early October 2008. Do I really need to remind you all what was happening back then? Bottom line: This currency pair has been a key indicator of risk appetite, and the massive move today through key technical levels could presage another bout of fear/panic in the markets. My two cents anyway.
Related posts:
- Dollar debasement keeps on keeping on The dollar’s collapse is gathering steam in early trading today. The broad-based Dollar Index is down 38 ticks to 76.95...
- Bonfire of the Dollar It’s hard to characterize just how nasty the action in the currency market is here. The Dollar Index got clubbed...
- Forint follies … Argentine angst … and mo… Every day, it seems like events in some far corner of the world come back to haunt the markets. Many...
{ 0 comments… add one now }