Posted by: Babu Suresh | June 12, 2009

GBPJPY-ID1

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“The dollar rose against all 16 major currencies today after Japan’s finance minister signaled that the second-biggest foreign holder of Treasuries will keep purchasing U.S. government securities. China is the largest U.S. creditor.”

http://www.bloomberg.com/apps/news?pid=20601110&sid=aDXtPpFTtsMQ – This is perhaps the biggest joke of 2009. When Japanese don’t have an iota of clue on how to douse the fire on their own home, they are talking about increasing the debts of the giant.

GBPJPY-5M-15MGBPJPY-5M-15M-12-06-09

A minor cushioning was created thanks to the Japanese FM but it’s still recommended to be cautious.

159.66, my 2nd support mentioned in my previous analysis, is still intact, perhaps will last for the time being.

Healthy And Wealthy Trading

Healthy And Wealthy Weekend.

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