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EUR/USD slips through 1.2600, USD/JPY through 84.00

By   || August 24, 2010 at 12:24 GMT
|| 6 comments || Add comment

The flight to safety continues to strengthen. Bond yields continue to fall as do stocks and commodity prices while the dollar, JPY and CHF all strengthen.

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6 Responses to “EUR/USD slips through 1.2600, USD/JPY through 84.00”

  1. Ichimoku doug on August 24th, 2010 12:33 GMT

    I guess we will see now how strong the bid are below 1.2600.

  2. puks on August 24th, 2010 12:36 GMT

    Hi Jamie,

    With market sooo one sided and testing BoJ’s resolve, do we expect a sharp and steep short covering rally in USDJPY and EURJPY?

    thanks

    PS : in Australia, Coalition is on its way to form govt. More from news.com.au

    http://www.news.com.au/features/federal-election/abbott-promises-new-politics-waits-for-greens-call/story-e6frfllr-1225909392803

  3. PapaSwamp on August 24th, 2010 12:38 GMT

    Looks like the pumps just kicked in trying to keep the Eur above 1.26 and the USD/JPY above 84.

  4. Suzanna on August 24th, 2010 12:40 GMT

    Dow may go under 10,000 today! PreMarket:

    Dow -111.00 / -1.09%
    Level 10,046.00

  5. Jamie Coleman on August 24th, 2010 12:53 GMT

    Puks, there will be some natural nervousness among specs to hold shorts for fear of intervention but there are “natural” sellers into rallies. Corporate Japan is underhedged and they will sell into any strength…If the BOJ actually intervenes, they will wait for the fireworks to die down, then sell…

  6. puks on August 24th, 2010 13:06 GMT

    Thanks Jamie.

    For some reason I have a feeling that BoJ, for a change this time, will intervene and catch everybody off-guard; especially now that market has sensed that they wont intervene in near future.

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