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Yen Crosses up 4% in one single day!
By Sean Hyman | March 23, 2009
Earlier this morning, I reported where the momentum was for the day. You can see that article here: http://www.forextradingblog.com/what-is-going-on-in-the-market/the-japanese-yen-takes-it-on-the-chin-again/
Those positions were up 2.5% to 2.8% then. Moments ago, some of them (AUD/JPY, NZD/JPY) touched the +4% mark on the day. These have been some amazing moves to say the least. That puts many of them up on the day ….about 200-250 pips!
Currency traders continue to go out on the risk curve as they seek the higher yields of South Africa’s rand and Turkey’s lira also (as they short USD/ZAR and USD/TRY).
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Sean Hyman
Tags: article, blog, forex, forextrading, Japan, market, momentum, pips, Sean Hyman, Yen
Topics: What To Look At In The Market |
March 23rd, 2009 at 7:50 pm
This is a very good forex article. Good job!
March 23rd, 2009 at 9:00 pm
Yeah, the yen is tanking …and the exotics have really taken off. I don’t hear many people report on the exotic currencies much…so I figured you guys might like to hear about those. Because they carry the higher interest rate yields right now.