It appears someone is betting on Kuroda and his cronies to do something later this evening (just like they did as The Fed stopped QE3 back in October) in some wierd monetray policy quid pro quo of – dump Yen all you like as long as the carry trade is alive and well. USDJPY is up from 119.85 to 120.50 (and NKY up over 400 points from US session lows), as perhaps the fact that The BoJ’s ETF-buying kitty is running dry at a crucial time. Chinese equity markets are extending yesterday’s losses as margin debt declines to a 9 month low (still 62% YoY), injects another CNY50bn and strengthens the Yuan fix for the 3rd day in a row; but in a somewhat embarrassing move, Washington has decided not to impose sanctions on China ahead of Xi’s first state visit next week.
Japan was excited…
JPY dumping against the USD is some odd anticipation of moar QQE from Kuroda…
This post was published at Zero Hedge on 09/14/2015.
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