As said in my attached US dollar index note, dollar yen reached too near 30 year old supply zone.
Reportedly, BOJ spend $30 billion defending the yen, to achieve this little retrace in the monthly chart.
Did they cashed out some of their US bonds in their reserves? Probably and logically will continue to do so in the future,
as China started doing too more intense recently. Thank God, Janet Yellen just started to buy US bonds, trying to rebrand the US Treasury into FED department...
Difference is that US Treasury cannot print money, so all she's doing by buying up long end and swapping short term bonds, is only increasing the interest expenses of the US government. Will not end well obviously when US citizens taxpayer money going to paid only interest expenses in debt.
150 is a big figure and the turbulence around it should have closed a lot of longs, including my only one left position obviously. Grateful though, nearly +20% since the entry, as posted during last April.
Cheers,
P.
Reportedly, BOJ spend $30 billion defending the yen, to achieve this little retrace in the monthly chart.
Did they cashed out some of their US bonds in their reserves? Probably and logically will continue to do so in the future,
as China started doing too more intense recently. Thank God, Janet Yellen just started to buy US bonds, trying to rebrand the US Treasury into FED department...
Difference is that US Treasury cannot print money, so all she's doing by buying up long end and swapping short term bonds, is only increasing the interest expenses of the US government. Will not end well obviously when US citizens taxpayer money going to paid only interest expenses in debt.
150 is a big figure and the turbulence around it should have closed a lot of longs, including my only one left position obviously. Grateful though, nearly +20% since the entry, as posted during last April.
Cheers,
P.
