Dealers note selling from real money accounts this afternoon in addition to light spec selling as US equities slipped back below breakeven on the day. Japanese exporters are expected to sell rallies toward the 92.00 level early next week they way they sold the 93.00 level earlier this week.
Japan continues to rattle the intervention saber but not particularly aggressively. They’d like to keep their powder as dry as possible should the JPY strengthen on a sustained basis below the 90.00 level which was penetrated overnight. The greenback is wasting away the afternoon around 91.00.
