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Gorncapt 28-04-2009 22:58

Juicy Rumor May Push Up the Yen
Juicy Rumor May Push Up the Yen

Okay, here's another story that's going around the horn today. There's a rumor going around that Japan's Sumitomo Mitsui is considering buying Citigroup Japan, for US$5.2 Billion.

Think about the currency trade. All that yen is being sold for dollars to make the trade. Remember, this is a private company in Japan and does not have access to the dollar reserves that the government does.

So a currency trade would be in order. I would think that if this rumor becomes reality, that it would not be wise to own yen, in the short-term while this trade is in play.

--This from FX UNIVERSITY --4/48/09


James Cole 15-05-2009 13:11

How true does this rumors actually are???

jerr 15-05-2009 19:32

Citi Rumor
A rumor is as credible as you want it to be. Thats why its called a rumor.

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