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CurrencyShares Japanese Yen Trust ETF (FXY)

  • Aug. 4, 2011, 5:15 PM
    The euro hits an all-time low vs. the swiss franc of CHF 1.0756, roughly 36 hours after SNB intervention sent the common currency soaring. The greenback has also returned to roughly its pre-intervention level vs. the swissie, even as it holds on to much of its gains against the yen.
    | Aug. 4, 2011, 5:15 PM | Comment!
  • Aug. 4, 2011, 7:22 AM
    The dollar continues higher vs. the yen in wake of intervention by the MOF and a bump in the BOJ's QE program, now +3.6% at ¥79.78. Price action in the yen is similar to that following the March intervention which drove the currency lower for about 3 weeks. The half-life of post-intervention moves is always shrinking - give it 2 weeks this time.
    | Aug. 4, 2011, 7:22 AM | Comment!
  • Aug. 4, 2011, 2:39 AM
    In addition to Japan's currency intervention to stem the yen, the BOJ increases the size of its Asset Purchase Program to ¥50T from ¥40T and keeps its interest-rate target range unchanged at 0-0.1%. The actions have so far worked, with the yen -3% vs. the dollar and -2.8% vs. the euro. (PR .pdf))
    | Aug. 4, 2011, 2:39 AM | 1 Comment
  • Aug. 3, 2011, 9:47 PM
    Japan's Ministry of Finance steps in to check the yen's strength, sending dollar/yen sharply higher. Additionally, the BOJ is moving forward its policy decision to Thursday, suggesting the central bank will make an announcement to support the MOF intervention. Dollar +1.7% at ¥78.26. Japanese shares like the news, +1.1%.
    | Aug. 3, 2011, 9:47 PM | 2 Comments
  • Aug. 2, 2011, 11:29 AM
    Citibank weighs in on yen intervention chatter, believing a Nikkei of 9.5K (currently 9,845) or dollar/yen of ¥76 (currently ¥77.13) could set it off. As with most interventions, the beneficiaries are likely to be nimble FX traders, not the exporters gasping for air.
    | Aug. 2, 2011, 11:29 AM | Comment!
  • Aug. 1, 2011, 1:40 PM
    Nikkei reports Japan is gearing up for currency intervention and that the BoJ may take additional monetary easing steps at its meeting later this week. The paper calls the U.S. "open" to the idea. (Registration req'd) FXY -0.1%.
    | Aug. 1, 2011, 1:40 PM | 2 Comments
  • Aug. 1, 2011, 1:01 PM
    With the greenback weak and sentiment overwhelmingly negative, Peter Brandt notes the chart structure of the dollar index today is nearly identical to the 2008 lows. "Tell me something bearish about the dollar today that I do not already know," says Brandt.
    | Aug. 1, 2011, 1:01 PM | 1 Comment
  • Aug. 1, 2011, 9:57 AM
    The greenback takes out its Friday (what one might thought to have been panic) low vs. the swiss franc, now buying less than CHF 0.78 for the 1st time ever. The carnage is worse for the euro, sliding even deeper into record-low territory vs. the franc, buying less than CHF 1.12. FXF +0.8%.
    | Aug. 1, 2011, 9:57 AM | Comment!
  • Aug. 1, 2011, 7:29 AM
    In a sharp reversal, the greenback gives up the bulk of its overnight gains against the yen and the swiss franc, now back at all-time lows. Perhaps the focus is now returning to the struggling U.S. economy. Miller Tabak's Mike Pietronico says there is only one "fact" emerging from the debt deal - "no stimulus coming in 2012."
    | Aug. 1, 2011, 7:29 AM | 2 Comments
  • Jul. 29, 2011, 3:55 PM
    The dollar sinks below ¥77 for the first time since spending about 30 seconds at that level in the panic following the earthquake. The yen's recent strength has so far drawn a few tough comments from Japanese officialdom and complaints from industry, but no intervention ... yet. FXY +1.1%.
    | Jul. 29, 2011, 3:55 PM | Comment!
  • Jul. 29, 2011, 8:45 AM
    A flat dollar index following the GDP report belies big action in currencies as the dollar plummets to new record lows vs. the swiss franc and (effectively) the yen. However - remember your correlations - the greenback rises sharply vs. the loonie and aussie.
    | Jul. 29, 2011, 8:45 AM | 1 Comment
  • Jul. 28, 2011, 3:29 PM
    Japanese executives use the occasion of earnings releases to warn about the yen - still hanging at all-time highs vs. the dollar. "There are questions over whether it's possible to keep production in Japan," says Toshiba's EVP, "improvement in production systems can't keep up (with yen strength)."
    | Jul. 28, 2011, 3:29 PM | Comment!
  • Jul. 26, 2011, 11:51 AM
    Japan officialdom begins to weigh in on the yen's strength (continuing near all-time highs vs. the dollar), as pressure mounts to act. Hiromasa Yonekura, chief of Japan's largest business lobby, calls for the government to "take appropriate steps in a timely fashion," and newspaper editorial pages are calling for intervention. FXY +0.4%.
    | Jul. 26, 2011, 11:51 AM | Comment!
  • Jul. 26, 2011, 7:55 AM
    With the greenback getting hammered across the globe, conventional wisdom has the reason being worries about a U.S. default/downgrade. However dollar-based assets - equities and bonds -  are doing just fine. An alternative explanation: a Goldman report saying inflation be damned, economic weakness is about to bring more QE.
    | Jul. 26, 2011, 7:55 AM | Comment!
  • Jul. 24, 2011, 5:50 AM
    Japan reportedly plans to issue ¥10T ($128B) in reconstruction bonds and to cut spending by ¥3T to pay for more projects to rebuild the earthquake-devastated northeast. The government has already set aside ¥6T for the purpose.
    | Jul. 24, 2011, 5:50 AM | Comment!
  • Jul. 21, 2011, 5:25 PM
    One more look at the yen which continues to power ahead (previous), with dollar/yen at ¥78.26, more a less an all-time low. With Greece safely swept aside for the moment, look for dollar/yen to be the next major issue of financial concern (not forgetting the debt ceiling debate).
    | Jul. 21, 2011, 5:25 PM | 2 Comments
FXY vs. ETF Alternatives
FXY Description
CurrencyShares Japanese Yen Trust is designed to track the price of the Japanese Yen net of Trust expenses, which are expected to be paid from interest earned on the deposited Japanese Yen.
See more details on sponsor's website
Country: Japan
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