A lot could depend on the translation as to what the word soon means. In Ireland if you say ‘a minute’, that could mean anything up to three weeks! Soon in Japan might mean before Christmas for all I know!
27 Responses to “Japanese PM Kan: Wants to show response on strong Yen soon”
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AUTOREFRESH 
So what would “soon” mean in Australia? Before New Years?
“Response” can also be quite vague. Perhaps he wishes to reiterate they are closely watching the markets…
Sengoku (chief cabinet officer) is saying he reckons that speculative money was behind the move.
You don’t say…
Sengoku also says he hopes to “analyze” forex movements with the Fin Min around midday today (e.g. now). Sounds like they haven’t figured out what is going on yet.
Depends on who’s saying it Eric. With me, Christmas if you’re lucky!!
I’ve got the Nikkei headline in Japanese now, and it also refers to midday today, with respect to the “soon”.
Sorry, my mistake. It just says that they are going to discuss it, but doesn’t state anything about actions.
I would think that a smart broker would advise Kan to see the reaction post-US durables goods and home sales data tomorrow……
Oxymoron alert: “smart broker”
fxgai: My Japanese (not native, but 20 years in country) suggests he said “it may take some time to determine how much speculative money is behind this”.
Either way of course, Major Doofus has spoken.
I see, there wasn’t much detail to the item I saw (http://www.gci-klug.jp/fxnews/detail.php?id=82071), but it may be significant that they are referring to these movements as having speculative money behind them (as opposed to other types of flows). They may try to use that as a justification/excuse for stepping in, if they do. Personally I look at it the opposite way, it’s their verbal intervention that had been holding USD/JPY up (not that what I think matters).
I can only see that many US Data are disappointing at the moment and that could lead stronger yen which could make Kan angrier..SOON is very possible and likely. when asian people said soon ( i am asian) often they really mean it, and market testing Japan resolve is a catalyst
Yeah I read another Nikkei article and don’t think we’ll be waiting til Xmas to hear more about this. Not sure that the speculators are going to be scared by what him and his team come up with, but they will probably come up with something. Could be a good selling op.
Soon , we shall see the sun Rising….. Expect the unexpected soon….
what was that just now?
I do feel a bit sorry for the BoJ. They are well and truly screwed. No major CB is going to support them, and their debt-to-GDP ratio makes any intervention (directly or via QE) a prescription for disaster. It’s really no wonder that the market is beating them like a red-headed step-child. They are sitting at a poker game with no chips.
.. never mind.
David from NEW ZEALAND (fxgai) Youhave given me great info. I really appreciate your info. Sorry about the bad start. I’m just really picky. (sp) Your nikkie and TFX info is great! Lets get em!
All I know is I’m waiting for answers? People show up and say they have ideas. No responses and wierd names? You all know me bad or good. I think this is wrong? Why no response, and level or trade ideas? Come on folks. SCAM.
lance: they have chips. I don’t know why but Monetization of debt is not leading increasing interest rates in this environment as can be seen on the US. If BoJ intervenes I don’t think that this will lead big jumps in interest rates. At the end of the day the bOJ ill start buying JGBs as in the US. The only problem is lack of international approval for their actions because Chinese can abuse this action to justify their policies
Hart, not everyone has the same trading style and not everyone has ideas that is useful for you
And vice versa. But hey I’d go 100% long USD/JPY at 50:1 right about now though for a laugh!
your right fxgai (david) and your sharp. I like you and for the umteenth time, your sino (JPY) info is reallly good !!!! Thank you.
love u 2 Hart.
Thanks ! Sleepy time . Hasta manana. Suzzana we like ya. You make some good calls on levels. Draw me a Daily chanell ( not a wiggly one) crossing a trendline from the flash crash and late 07. Then find the upwards weekly. Hint : Sean doesn’t use candles. Peg well.
Get ready as Looise says for the slam down (sp Sorry) OUCH!!!!
I refuse to short eur/jpy until it crosses 106 and has a sustained grasp on the bottom of 105.43. My 107 flat short will do for now. Plus I’m hedged. Or )0 vs 0 as Jamie says.
I’m going to short eur/jpy just under 108.5. Small order for fun. It crosses the 100 slightly on the hourly.