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usd/jpy spike down
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usd/jpy spike down

  #1 (permalink)
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usd/jpy spike down

Any idea why usd/jpy is getting pummeled along with the eur?

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dolamite View Post
Any idea why usd/jpy is getting pummeled along with the eur?

Greece, hello?

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  #3 (permalink)
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Seems a bit nonsensical, we have no interests in the country our GDP doesn't rely on their economy. I don't begin to try to rationalize the market, but at best this an excellent buy for the usd if you haven't in my opinion. So much drama the fx markets.

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  #4 (permalink)
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I'm aware of that, but this was an over reaction. I guess as big as the fx mkt is I should expect more drama than what I've been used to. We've still got the people's vote and the question of whether they can shore up the 1.7mmm on the 30th.

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  #5 (permalink)
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This could have something to do with arbitrage?? The EUR/USD, EUR/JPY, and USD/JPY all spiked down on the opening at 15:00 6/28/2015

Arbitrage means the following must give the same yen:

Case 1: Start with a dollar -> Buy Euros -> take the Euro to buy Japanese Yen using pairs EUR/USD, EUR/JPY

Case 2: Start with a dollar -> Buy yen using pair USD/JPY

So, In case 1, my dollar is worth less because EUR/USD went down, and the euros also yielded less yen because the EUR/JPY went down. Therefore USD/JPY must go down to make them equal.

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  #6 (permalink)
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So a carry trade of sorts.

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