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MAY 10, 2013 - Zero Hedge

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Uncle Buck Upstages Bernanke

Some recent volatility in currency markets began with the Reserve Bank of New Zealand intervening to stem the rise of the Kiwi. At the same time, the Reserve Bank of Australia cut its overnight lending rate. Both actions caused sharp declines in their currencies. These currencies had been a particular favorite of Japanese investors (aka, Mrs. Watanabe) seeking more yield than what’s available in Japan. All this roiled currency markets Friday in Asia as the yen plummeted further crossing the psychological level of 100 vs the dollar. Bucky rallied against most other currencies feeding on ... Read More

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