SO the Japanese Yen was tumbling. The Swiss National Bank Swaps were exploding. The USD was up 1% around 8 am central.
THEN, WSJ Reporter tweeted that Fed was thinking about lowering future interest rate hikes and Japanese govt intervened to protect currency and BOOM, market exploded, USD down 1%.
Great for those who were set up for that. Gotta be honest, my GLD and GDX puts looked beautiful at 8 am, ugly at 9.
But on the other hand, these are not things that occur in great markets. Sorry Japan, the sun is setting on your Yen (which is worth about the same as Argentine Peso. They have fallen versus USD about the same amount since March. The peso might be a little worse, but the Yen is catching up.
THEN, WSJ Reporter tweeted that Fed was thinking about lowering future interest rate hikes and Japanese govt intervened to protect currency and BOOM, market exploded, USD down 1%.
Great for those who were set up for that. Gotta be honest, my GLD and GDX puts looked beautiful at 8 am, ugly at 9.
But on the other hand, these are not things that occur in great markets. Sorry Japan, the sun is setting on your Yen (which is worth about the same as Argentine Peso. They have fallen versus USD about the same amount since March. The peso might be a little worse, but the Yen is catching up.
