Dollar recovers on 'intervention'

[rodbarnett]

The dollar has recovered against the yen, on suspected market intervention by the Bank of Japan.

The US currency jumped to a high of 108.30 yen, from the lower 106 range before the suspected action.

Bank of Tokyo-Mitsubushi currency analyst Kikuko Takeda said: "It looks like Japanese authorities stepped in."

Japan has intervened massively in forex markets in a bid to stop the yen rising against the dollar and jeopardizing the country's export-led recovery.

http://news.bbc.co.uk/2/hi/business/3382365.stm

[htuttle]

1. It only lasted about an hour

It's already back down to around 106.



Looks like someone else took advantage of the intervention to sell.

[BeHereNow]

2. "A House of Cards"

Built in the "Land of Smoke and Mirrors."
The powers that be are frantically trying to
keep the illusion propped up long enough to
secure all the elements of the next phase of
their coup.
It's going to come tumbling down eventually, but
by then, they will be ready for the civilian uprising.
Citizen, please report to your Walmart supervisor.
If you don't, illegal immigrants will take your place, legally.
Unions? Ha-hah-hah...go tell it to the SoCal grocery worker.
BHN