Mark that as the first time Timmy said anything positive about Europe. Maybe that’s a buy signal.
Geithner met with Japanese fin min Azumi today and is trying to shore up support for sanctions on Iran. Hints on this could be a large mover for oil. The US seems to want this badly, so my suspicion is that announcements will come when Geithner gets home.
Azumi’s comments suggested he lobbied for more US action against the weak Chinese yuan. Azumi also spoke about the need to monitor excess volatility in currencies, suggesting he’s not backing down on yen intervention.
