Bank Of Japan Announcement

[Maizefarmer]

Not strictly a Thai subject - but, Bank of Japan is going to be making some major finacial anncouncements in about 20minutes time - which are going to swing YEN curency pairs one way or the other.

Over the last half hour the YEN has gone in value from 235.15 to 233.75 (against Sterling) - and stung me real bad in the process (it's biggest jump in years).

Not sure if I should swallow hard and accept the losss, or stick it out and see what the Nip's say in about 20 minutes (11pm US Eastern Time)

Anyone else trading - any comment from knowledgable members?

MF

Edited February 21, 2007 by Maizefarmer

[Casanundra]

I think you should 'nip' it in the bud before it gets worse.

Edited February 21, 2007 by Casanundra

[Maizefarmer]

Fair comment - now tell me why thats your take on the situation?

BTW - I missed the chance to "nip it in the bud" - I moved so fast - I went to make a cup of coffee, got back to the computer - ... rest is history.

It's leavling off now i.e. can't see it getting any worse (damage done) - just trying to work out if theres much chance it'll improve

MF

MF

I think you should 'nip' it in the bud before it gets worse.

Edited February 21, 2007 by Maizefarmer

[Maizefarmer]

.. and what happened - well, the BOJ raised interest rates by 0.25%.

You'd expect the Yen to shoot up in value against the Sterling (i.e. interest goes up = increase in currency value) - but what happened - it dropped back to 235.13.

I got out 2pips higher than I could have ever expected.

Do your own calcs - 2pips on £25K at 250:1 leverage - u calculate the profit.

Not made for an hours work (actualy - should say pure sweat!)

MF