January 24, 2009

Dollar Fell Sharply Against the Yen on Options Expiration

On Jan 21, expiration of the option contracts at 10:00 CET sent usdjpy close to 87 (I think the lowest since 1995). It was apparently because the investors avoided betting that the Dollar would not fall below 90 against the yen. I had a long position on usdjpy, ahead of the Japanese Merchandise Trade Balance, which unfortunately closed in loss automatically.


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