EUR/JPY Sells Off In Overnight Trading In Asia.

FXstreet.com reports in overnight trading:”After a quiet start, trading into a tight range just above 114.00, EUR/JPY has been heavily pressured this Monday in Asia, following the strong selling in EUR/USD, as Eurozone’s debt woes have hit the common currency. EUR/JPY dropped over 100 pips and went as low as 113.02 where it set a fresh 3-day low before bouncing slightly. Currently the pair is trading at the 113.20/30 zone, where it consolidates a 0.83% daily loss so far.”

Perhaps when the stock exchanges open on Monday October 8, 2010, the Euro, FXE, will trade lower than its Friday close at 139.83 and the European shares, VGK, will trade lower than their close at 52.76.

Perhaps a number of the yen crosses, will trade lower, then the US Dollar, $USD, will go up and global competitive currency devaluation, that is competitive currency deflation will commence November 8,  2010, and the Dow, the S&P, and the Nasdaq will go down.

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