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Spurious Japan Headline Sparks USDJPY Spike

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It's 2am in Japan and Nikkei has decided - right as the 30Y Treasury auction hits - to unleash a spurious headline - BOJ TO EXPLORE DELVING DEEPER INTO NEGATIVE RATES... Which of course is 'old news' - but don't tell the Algos.

 

Of course, USD strength after a weak auction is also helping but the timing is simply too coincidental not to be an attempt at manipulation...

 

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For now it's not helping stocks too much...

 

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But that didn't last long - stocks algos quickly jumped on the USDJPY spike on old news...

 

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