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Forex: USD/JPY soars, speculation points at BoJ

By FXstreet.com,  October 31, 2010, 08:17:00 PM EDT

FXstreet.com (Barcelona) - USD/JPY skyrocketed at the Tokyo opening this Monday, abandoning a new 15-yr low reached at 80.24 earlier on, to climb back up over 130 pips posting a fresh high at 81.54.

At present, the price can be found retreating very strongly back below 80.80, as traders clearly show the inflows to depreciate the Yen should be much greater to infringe some major damage to the currency.

Several brokers and major banks just stated that there was the usual kind of call at Tokyo opening, the routine call, but so far no confirmation of intervention. Japanese officials not commenting.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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