Reply #76: well, maybe these are "flashbacks" [View All]

[UpInArms]

:D

from the daily dollar watch posting

http://www.dailyfx.com/article_daily_fundamentals_101904.html

he dollar broke down against the Japanese yen today as the yen finds some relief from the retracement in oil prices. It appears that the pair is more sensitive to a decline in oil prices these days than its persistent rallies. Declines into the 108 handle and even further into the 107 handle always sparks fears of Bank of Japan intervention. However, the BoJ has refrained from intervening in the market this fiscal year despite the fact that USDJPY was trading at these levels back in July. If anything, verbal intervention is more likely at this point. Interestingly enough, the Nihon Keizai Shimbun reports that in a report due for release on October 29, the Bank of Japan will forecast that consumer prices will increase modestly in fiscal year 2005. This means that they may be looking at gradually removing excess policy accommodation in late 2005, early 2006.