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"Be Right - Sit Tight"

Jesse Livermore
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Gold Market Wire

News, analysis and commentary for gold traders and investors

FX Watch

Japanese Yen Makes More Widows and Orphans

March 9, 2020 - (Gold Market Wire) - Well its happened again. The widow maker has struck and struck hard; taking the Yen/Dollar up vertically and making more widows and orphans for the great Yen grave yard. The Yen bears have fallen for the trap again. So many believers (yes Kyle, we mean you) - so many bodies.

the sign of the big banks...they leave footprints everywhere they go

Along with the perma Dollar bears who insist the US currency is (always) just weeks away from collapse, the Yen bears have notched a higher body count than just about any currency out there. The latest saga in this seemingly never ending series has seen a 10% move in a little more than two weeks! Moves like that expand the obituary columns by pages.

It's all part of the endless mountain of Japanese debt, now bought solely by the Japanese Central Bank. Honestly, if you're going to buy 100% of your own bonds...why bother issuing the damned things to begin with?

Hope always seems to spring eternal for those with short memories. For those who peruse history, they may wish to note that all of the usual tropes of the FX market, that the US Dollar is 'finished', and will soon be replaced by 1) The Euro 2) The Reminbi 3) A Gold backed Ruble... have been around since the 1970s, when the Soviet Union was still in existence. They have been dragged around the block so many times, its a wonder why anyone still believes them.

But they do.

..and the body count keeps right on growing.

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