Earlier today, when we observed the overnight “news” floated by Japan’s Nikkei we cautioned that…
Also the Nikkei is best known not for breaking news but for floating trial balloons
— zerohedge (@zerohedge) September 13, 2013
In other words, the report was merely leaked to gauge the market response. Sure enough, the response was gauged, and here comes the official news, shooting down this latest trial balloon.
- White House Is Saying Reports In Japanese Press That Obama Is Set To Name Larry Summers Are Wrong – Dow Jones
Sure enough, any modest USD strength accumulated on the overnight rumor, is now being promptly unwound.