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I guess Toyota will have to do less hedging

By   || January 27, 2010 at 14:05 GMT
|| 2 comments || Add comment

News that Toyota has suspended sales of 8 models owing to sticking accelerator pedals may just have some implications for USD/JPY. Assuming Toyota is a steady seller of USD/JPY, like most Japanese exporters, they will have few dollars to sell as sales slump.

Not a reason to buy USD/JPY on its own, but one background factor to keep in mind.

USD/JPY is easing along with EUR/JPY at the moment as Eurozone jitters (Greece, Portugal, Spain, Keep the EUR under pressure.

Strong bids in EUR/USD begin in the 1.4030 with more at of 1.4000/10. We trade at 1.4040.

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2 Responses to “I guess Toyota will have to do less hedging”

  1. Tajul Akbar Bin Ismail on January 27th, 2010 14:10 GMT

    EURUSD 1.4053 broke, next support @ 1.4000

  2. Tajul Akbar Bin Ismail on January 27th, 2010 14:10 GMT

    CORRECTION : EURUSD 1.4053 broke, next support @ 1.4021

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