CNBC, 20 Sep 2010: Yen’s Weakness Unlikely to Last

September 20, 2010 by · 4 Comments
Filed under: CNBC 

CNBC, 20 Sep 2010: Yen’s Weakness Unlikely to Last

Japan’s move to curb the yen’s strength is unlikely to have a lasting impact as Mario Singh, director of training & education at FXPRIMUS.com, sees the currency rising further. He makes his case to CNBC’s Maithreyi Seetharaman & Chloe Cho.

View More CNBC videos of Mario Singh >>

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4 responses to “CNBC, 20 Sep 2010: Yen’s Weakness Unlikely to Last”

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  1. Meng Wah says:
    September 21, 2010 at 6:01 pm

    Hi Mario,

    Does the upcoming release of FOMC result will help to strengten the JPY further, which in line with your statement “Yen’s weakness unlikely to last” ?

    Let say if the Fed hint for QE, then the USDJPY pair will go down, and at the same time, the cross pairs like EURUSD and EURJPY will go up. Am I correct ?

    Just share what I see here. Do correct me if I’m wrong. :-)

    Thanks.

    Reply
    • Mario says:
      September 22, 2010 at 1:08 am

      Hi Meng Wah,

      If the report is “negative” for the USD, then yes, the Yen will strengthen further. Watch out for Bernanke’s language when he delivers the report.

      If the Fed hints at QE, yes USDJPY will go down.

      EURUSD will be like a yo-yo. It will go up FIRST (becos traders/investors will sell dollars), then come down becos it is still viewed as a “risk” currency.

      Stay away from EURJPY in the aftermath of the announcement. :)

      Cheers,
      Mario

      Reply
      • Meng Wah says:
        September 22, 2010 at 10:30 am

        Thanks Mario.

        I’ve riding on the wave of EURUSD at the news release. Earn ~100 pips on that :-) . Pretty interesting also on new release’s trading. However, it requires lots of studies and fundamental analysis before come out with your judgement. Advice from expert trader especially from you will definately help a lots ! :-)

        Anyway, I would like to seek your opinion on these 2 items :

        1) Just wondering what’s the reason behind to stay away from EURJPY after the annoucement ? Is it due to Japan may intervene the market at anytime ?

        2) For the next FOMC meeting, if Fed decides QE, then it will sent USDJPY pair very much down, and indirectly ’causes’ the Yen to be strenghten again. It may be stronger than before where the line of sand at 82.90. This scenario seems to be contradicting because US need QE and Japan need weaker Yen to help their ecomony respectively. With this in mind, will Japan continues on its intervention effort ? Can you share your call on this ? :-)

        Thanks a lots bro !

        Reply
  2. Meng Wah says:
    September 25, 2010 at 7:47 pm

    Hi Mario,

    Just wanna to know if you have any comments on these :-) :

    1) Just wondering what’s the reason behind to stay away from EURJPY after the annoucement ? Is it due to Japan may intervene the market at anytime ?

    2) For the next FOMC meeting, if Fed decides QE, then it will sent USDJPY pair very much down, and indirectly ’causes’ the Yen to be strenghten again. It may be stronger than before where the line of sand at 82.90. This scenario seems to be contradicting because US need QE and Japan need weaker Yen to help their ecomony respectively. With this in mind, will Japan continues on its intervention effort ? Can you share your call on this ?

    Thanks a lots bro !

    Reply

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