This morning around 3:00 AM ET, Switzerland announced a surprise interest rate cut with the aim of cooling the red hot Swiss Franc.
Tonight, 18 hours later, the other country getting crushed by a surging currency, made its move… or at least it seemed to.
As you can see here, the dollar just made a very unnatural instant spike against the yen.
That this was likely coming has been in the cards for the wire, as Financial Minister Noda has been talking in recent days about the unusual strength of the yen.
US futures are at their highs of the night.