Yen Rallies - Multi Year Trend Reversal

Posted on Mo 06 Oktober 2008 in misc • 1 min read

  • Economy
  • Forex tags:
  • Economy
  • Forex
  • USDJPY meta: _edit_last: '5' _aioseop_keywords: Forex, Currency, Yen, Dollar, Warren Buffet, Investing, Trading, Crash dsq_thread_id: '192631776' author:

    I remember Warren Buffet getting long Yen about a year or two ago.  Was he lucky or just shrewd?

    After seven years of providing the cheapest source of funds for investors buying higher-yielding New Zealand dollars, Australian dollars and Brazil reais, the yen is appreciating as $587 billion of subprime mortgage-related losses force banks to restrict credit. It strengthened 4.4 percent on a trade-weighted basis in September, according to the Bank of Japan's effective exchange rate, the most since August 2007, when the seizure in capital markets began.[via Bloomberg]

    Shrewd is the answer.