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With the world focused on the maybe irrelevant fiscal cliff, Kevin Ferry notes a
in the currency wars. After nearly 2 decades, the BOJ seems to be getting serious with its QE efforts, and the BOE just became even
more of an arm
of fiscal policy. If the Fed had tried this, the howls would be deafening. The dollar
vs. the yen, buying ¥80.13.
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Every time people predict the demise of the Yen they get burnt. Probability is that Yen will remain strong until US interest rates start to rise - whenever that is, surely it must happen some day? Hard to imagine JPY rates rising EVER. In the meantime, be wary of getting into bed with the Widowmaker...
Nov 14, 2012. 11:17 AM
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