At the Open. Looking for sanity.

09:06CET

Good morning everyone, hope you are fine. There is an intense rumor going on in the markets at this moment that China has started selling EUR/USD @ 1.3965, and that adds up to the USD-buying by the South Korean CB on the wake of the rapid Won rise, which is said to be of around $500mln.

Has this helped correct the insanity in this one-sided market? NO. The market is smelling blood and will bring things to a new climax, this time with the EUR, CHF and JPY as the attacking weapons, luckily for the British their currency has been left out of this mess.

Where is the BoJ? The USD/JPY cross is below where they first intervened, now around 82.65, and what does this mean is that...they are happy now?

Where is the SNB? Are they happy @ 0.96? It has all come to a point where one does not know whether he is the insane or the rest of the whole world has turned insane and chaos has been installed to rule things in a new order. Not to mention today's economic data, tomorrow's US employment data or the G7 meeting, which could see further market fireworks in benefit of the few...

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