There can be only 2 reasons….
The Bank of Japan is holding a special meeting. I’m sure it’s not a special meeting to discuss the Tiger Woods situation.
There can really be only two potential reasons:
- The value of the dollar vs. the Yen – an ongoing issue but not worth an emergency meeting.
- The ripple effect of the Dubai mess.
My vote is on the Dubai Mess. It’s going to be interesting to see how this all plays out……
Tom Vanderwell
Bank of Japan to hold special meeting; yen drops – MarketWatch
LOS ANGELES (MarketWatch) — The Bank of Japan said Tuesday it would hold an unscheduled extraordinary policy meeting to “discuss monetary control matters based on recent economic and financial developments.” The meeting was slated to begin at 2 p.m. local time, with Gov. Masaaki Shirakawa reportedly set to brief the media later in the afternoon. The surprise move comes amid concern over deflation and the continuing rise in the Japanese yen. The yen fell immediately following the news, with the U.S. dollar breaking above the 87 yen level after trading at 86.31 yen late Monday in North American trade.
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