Mizuho Corporate Bank - Dropping to a low at 101.40 Friday, the lowest price since December 1999's low at 101.25 and in turn the lowest price since December 1995. Worrying too that politicians are quibbling over whether deputy Muto should take over as governor of the Bank of Japan when present incumbent must leave on the 19th of this month. One could imagine a situation where nobody knows what to say or do with a US dollar which looks set to test these key low levels. Mind the gap! For today while the Yen is holding above Friday's low, it has given up almost nothing. Same goes for most other major currencies. We favour a renewed downside test this afternoon.
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