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From today’s Daily Pfennig: I’ll tell you why I believe this is happening… So many Japanese investors held Aussie and kiwi (the high yielders) VS their base currency (yen)… And when Commodities started their free fall, these Japanese investors began to close out those positions, which meant they sold Aussie and kiwi, and bought yen… […]
Cattle’s looking good – I’m keeping an eye on the Feeder market also. Wish I still had all my Live Cattle contracts, but oh well – looking to add on a new breakout. Pork bellies are not looking good – same article linked above mentions too much supply on the market. Quite a breakout by […]
Chuck Butler mentioned yesterday in the Daily Pfennig that, for the first time since 2005, Futures Traders are going long the US Dollar. 2005, you’ll remember, was the year of the dollar’s counter rally in this downtrend. Nothing goes straight up or down, so we’ll see if this is the start of some sort of […]
Same story we’ve been following here. A nice rally in the grains today, and a little bit of life in the softs as well. Can corn continue to break out from here? It’s been rangebound for the past couple of months – I keep thinking that fundamentals will eventually prevail and push corn past the […]
A couple of good ones from Chuck in today’s Daily Pfennig:Well… How about that U.S. dollar? That’s some currency Rudy! Why, look at it rallying against the euro and other currencies as if it’s on a mission from God! It looks as if the U.S. has turned things around… The Deficit no longer needs to […]
David Bloom makes the case that the Japanese Yen is no longer trading based on Japanese events. From personal observation – I agree, the Yen has been basically an inverse proxy of risk appetite in America for the past year or so.
Currency guru Chuck Butler at the Daily Pfennig has been waiving the flag for the Swissie and Yen for some time, long before their recent moves up. He loves them at today’s prices: Swiss francs are back to parity with the dollar, and even beyond! Japanese yen is flirting with a sub-100 figure too! I […]
Full article Summary: We all know the yen carry trade – folks borrow “cheap” yen (paying unnaturally low interest rates), invest in higher yielding terrain (ie. Australian dollar) and leverage the shit out of it. This doesn’t work when the yen rises – as it is now. I had assumed that most of the carry […]
From Chris Gaffney at the Daily Pfennig: Both Chuck and I have had positions in Japanese Yen for some time now, so you will have to excuse us if we seem a little excited (relieved) that the yen is finally moving up. But as always, the move in yen won’t be a one way ride. […]
An interesting interview with superinvestor Jeremy Grantham. Perhaps of interest to readers of this blog: he mentions he is long the Japanese yen, the Swiss franc, and the Singapore dollar.
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