Monday, September 06, 2010
Nothing to add today after a set of NFPs that we had hoped would have twanged the elastic on the likes usd/jpy a little harder. But if the BoJ were serious about stopping yen appreciation they might start at home with a few quiet words. IF they are going to come in, it is going to be embarrassing if their usd/jpy bids are just filled in by the guys in the next-door Lifer building. Of course if they were to step up, we would ask them to kill a whole flock of birds (pink flamingos even) and buy Rmb/Jpy. That would be a laugh.
It should be a quiet holiday trading day ahead as the US celebrate Labour Day. London, however will be celebrating a "no Labour" day tomorrow courtesy of the tube workers. England are kicking off the long awaited World Cup Strikers competition.
But for now we leave you with the summary page we received of a 3 year EU study on how the financial world sees itself.