AUTOREFRESH 
Reuters: Euro zone and Japan have not discussed intervention
By Jamie Coleman || September 2, 2010 at 15:42 GMT
|| 12 comments || Add comment
Reuters quotes unnamed sources as saying officials in the euro zone and Japan have not discussed Euro zone participation in intervention to weaken the JPY.
The source offered these wise words “Do not pee into the wind, only with it.”
Profound.
Few expect Japan to garner much support from the G7 regarding intervention but they don’t expect any protest from other members, either.
I would not be at all surprised if intervention were to come that the Fed, ECB and BOE will intervene in the markets on the BOJ’s behalf, but almost certainly not for their own accounts.
I get confused enough between Gs 7, 8 and 20.
Don’t s’pose it makes any difference whether or not Russia’s included?
Or was that G&T.
Makes more sense to me
If you were a cocktail, lilac, that’d almost certainly be the main ingredient. I reckon a bit of banana too …
That is the truism of the year. Don’t pee into the wind, and don’t trade counter-trend!
Some mixed metaphor thrown into the drink too.
And a lot of frappé ‘n all.
Nothing can stop the newly found the king of currencies Japanese Yen:)
Budget deficit 9.4% almost in line with that of the US deficit
Japan’s debt/GNP ratio is almost twice of the US ratio.But
Every body is saying Japan’s debt is in their own currency so what the same for the US.
The US growth rate 1.6 % compared to Japan growth of 0.4%
No need to mention the deflation vs inflation.
So Yen,the new king of currencies, has quite fundemental strength compared to the US
“Japan Said to View Likely American Opposition as Yen Intervention Obstacle”:
http://www.bloomberg.com/news/2010-09-02/japan-said-to-view-likely-american-opposition-as-yen-intervention-obstacle.html
kinda makes you wonder why they keep making the threat, doesn’t it…
My view is that while the US won’t like intervention, it won’t make a fuss. All of Japanese neighbors manage their currencies aggressively, Japan’s would likely be a short-term effort to turn the tide…The US nor Europe will cooperate in the intervention, beyond buying dollars on behalf of the BOJ, if they do decide to intervene…These days, with electronic dealing, they could easily skip using “agent” central banks and do it all from Tokyo, 24-hours a day…
Who says they haven’t been doing it already?
The usual suspects have not been seen, but it is possible…they have in the past done stealth intervention where they have one or more of the big banks deal on their behalf…
Well it’s been at the back of my mind – it’s treading water one way or the other.