Monday, August 30, 2010

BOJ main driving force

BOJ said they will "inject" $10T yen, don't get too excited, that is only $100 B USD roughly using the old school 100 to 1 ratio.

So this temporary dollar strength my be, well, temporary.   I still expect Cable and Euro to hit target as shown below.    Time will tell.

As annoying as this market it, my one trading position QID, enjoyed the 2% intraday drop.   Glad I slept through that early ramp job.

Eur/GBP chart from verifies what we kind of knew already....the Euro is weaker than the GBP.

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Insightful and Useful Comment!