- Must monitor whether currency moves reflect speculation or economic fundamentals
- Stocks falling, yen rising partly due to uncertainty after elections in Europe
- Think incoming French president Hollande understands need for fiscal discipline
USD/JPY sits at 79.77, pretty much unchanged from Friday’s North American close. EUR/JPY down at 103.75 from around 104.45 after the weekends French and Greek election results.
Talk buy orders clustered down at 79.50/65, sell stops through 79.50.
