Thursday 9th July 2009

Was out last night with the swedish girl, went to a small Italian place in Audley St. The Calamari starter was nice, but not so the salsa sauce which accompanied it and tasted like tomato paste. All in all an interesting night.

But back to the markets and what a crazy day we had yesterday!! Anyone long the Yen really made out like a king. Unfortunately I closed my CAD/JPY and USD/JPY crosses way too early and missed out on the FX markets reaction to the breaking of the key 877 level on the SPX. Japanese exporters must be spitting blood at the prospect of their currency strengthening across the board....Correlation between the eq markets and oil v Yen still v strong. Naturally i'm a contrarian trader and like going against the grain but this correlation is way too strong and only a fool or someone with more money than me ( not hard to find) would short the Yen.

So until tomorrow I wish you all happy trading.