Yen buying picks up as Obama orders up report to justify Syria strike

FXstreet.com (Barcelona) - There is some talk in the market that the latest round of JPY buying has to do with official reports suggesting that the U.S. could strike Syria within hours if President Barack Obama orders so.

According to CBS News: "Obama ordered a declassified report be prepared for public release before any military strike commences. That report, top advisers tell CBS News, is due to be released in a day or two."

Secretary of State John Kerry said Monday "the evidence is screaming at us" about chemical weapons being used in the Syrian conflict, and he said President Obama believes "there must be accountability."

Four U.S. warships with ballistic missiles are moving into position in the eastern Mediterranean Sea. "If the command is given, they will be able to rain Tomahawk cruise missiles down on targets inside Syria within minutes", reports Michael Snyder of The Economic Collapse blog.

Moreover, U.S. Secretary of Defense Chuck Hagel said that Barack Obama has asked him to "prepare options for all contingencies" as far as a conflict with Syria is concerned.

The White House released a statement that says the Obama administration has no intention to deploy ground force, but it did not rule out any other types of military action.