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"Abe means business this time," tweets Bill Gross, joining seemingly everybody in being bearish...

"Abe means business this time," tweets Bill Gross, joining seemingly everybody in being bearish on the yen. Up again today, the dollar moves to its year-high vs. the yen, buying ¥84.84. It may be a crowded trade - check out the whopping net yen shorts in CFTC data - but there's a lot of room to run. On a longer-term chart, the yen has barely budged this year.
Comments (1)
  • Island_Dweller
    , contributor
    Comments (359) | Send Message
     
    Things don't move quickly in Japan. While Abe may be on a rampage, I don't expect the BOJ to bow to his every demand. Similarly I don't expect the BOJ to roll over and play dead as a newly elected politician makes immediate calls for historic changes in economic policies.

     

    While a strong Yen is detrimental to Japan's export heavy economy, there are many taking advantage. http://bloom.bg/TOIAmh
    24 Dec 2012, 12:12 PM Reply Like
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