Dollar Spikes Against Yen
Just 18 hours after Switzerland announced its interest rate cut, US dollar made an instant spike against Yen.
At 3:00 AM ET last Wednesday, Switzerland announced an interest rate cut in order to cool the Swiss Franc. Then 18 hours later, Japan – which is crushed by a surging currency – made its move. Or so it seems.
As indicated by the chart posted below, the US Dollar just made a very unnatural instant spike against Yen.
With Financial Minister Noda talking about the unusual strength of Yen, this likely coming has been in the cards for the wire.
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