Yen's Maginot line of 105 ....
Was sliced through, by traders yesterday like like hot knife
through butter. The collective jaw of the Forex market drop-
ped to the floor.
Hitherto, the Japanese government had always intervened.
yesterday, it seemed like nobody was home. Prompting many to
speculate the real reasons behind the Japanese government's
ignoble unconditional surrender. Some think that it realizes
that 105 is a lost cause. While others blame it on the upcom
-ing G7 meeting. For which, Japan will be the host. Whatever
the reason, the Japanese government made it abundantly clear
through myriad unofficial channels, that 100 is now their un
-official new line on the sand that no one must cross.
Or risk their financial well being .... :}
Regards,
Albert K. Fung
La Brisas/Valle de Guadalupe, Baja California, Mexico.
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