Japan goes 25bp

Japan raised rates last night 25bp to .5%. This is in line with market expectations as recent numbers and comments for CB officials has clearly led the market to this conclusion. The Yen originally strengthened on the news and as of the last 60 minutes reversed course and has broken through yesterday's low against the Dollar. This could be a classic example of Sell the rumor buy the fact story. Keep a keen eye on Usd/Krw. I am hearing that large scale buying of dollars has been occuring over the last few weeks. With the Yen story out of the way it could signal a move up in the dollar against the Yen.

For me I am still short Dollars against

Brazil
Mexico
Euro

Long dollars against

Singapore
Chile

These are the FX Trading Ideas for today.

Good Luck and Good Forex trading.

FXTRADINGIDEAS@AOL.COM