One day after the strong Yen move rumors abound on the possibility on intervention. Every half an hour or so, there is an update about what Noda or Kan said, or did not say, who called whom, why there was no meeting but a phone call, etc. It is taking on a shape of circus. [...]

Interesting couple of days in financial markets, including currencies. After the early part of the week, when things were, well, boring, markets sprang to life on Thursday. The catalyst this time was the Initial Jobless Claims, which is a little strange. While this report always creates a lot fuss and lip service, it rarely creates the [...]

Too busy today for a full length post, so here is a brief update of potential trades mentioned yesterday. The Pound-Aussie broke sharply to the downside, crushing through the support at 1.7250. Sell took place few pips below. Once things settled down for the day, trade was closed for 50+pips gain. The EUR-CAD did not [...]