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Market on the Edge of a Meaningful Breakdown 10/28/22

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40 minutes ago, fxfox said:

I think they were actually a seller of US Tressuries. That was a part of their intervention, to sell USD denominated assets.

Splain me how that works. BoJ sells Treasuries and gets USD. Then what? It then sells the USD? That would only strengthen the yen. Is that their goal? To strengthen the yen? 

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3 minutes ago, DrStool said:

Splain me how that works. BoJ sells Treasuries and gets USD. Then what? It then sells the USD? That would only strengthen the yen. Is that their goal? To strengthen the yen? 

Well, I guess it is. But I'm not sure why. The weaker the yen, the more shit they can export. 

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I admit, I don't understand currency speculation and manipulation. I do understand that currency values are determined by the relative rate of money printing between central banks. The Fed is draining money faster than the ECB or BoJ, therefore the USD should continue to trend higher against them.  

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29 minutes ago, DrStool said:

Splain me how that works. BoJ sells Treasuries and gets USD. Then what? It then sells the USD? That would only strengthen the yen. Is that their goal? To strengthen the yen? 

Yes. They wanted to bring USD/JPY down. So they have to sell USD.

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17 minutes ago, PullMyFinger said:

Another great call Doc. Tu eres en fuego esta semana! 

Don't look at me. I have no idea what's going on here. 

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They frontrun that Poopwell will be dovish next week. That‘s all.

They will be proven right. FED shits in their pants.

BUT: It will take a long time till they CUT rates. Till that happens those rate hikes from 2022 will work their way thru the real economy and gonna cause lotsa damage.

 

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