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Geithner comment helps drive JPY crosses off cliff

By   || February 4, 2010 at 16:58 GMT
|| 1 comment || Add comment

The ball was already rolling but some fresh ammo from Treasury Secretary Geithner helped give it the final push. He said he expects China to begin allowing the Yuan to strengthen.

it’s not clear whether he has any insider knowledge via the Chinese or if he is just expressing the conventional wisdom that China will allow the CNY to begin to firm later this year to cool the economy.

USD/JPY reached 88.55 on the comment before bouncing to 89.27 in wild trade.

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One Response to “Geithner comment helps drive JPY crosses off cliff”

  1. lilac on February 4th, 2010 17:14 GMT

    Well Sean did say last night that China had sold USDJPY around the high yesterday. I knew I should’ve lowered my limit ;)

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