A Yen For Safety?
Over at a financial forum... The RUT is showing the way with the Yen firming up. Indeed with the NAS less than believable (short covering), keep your eyes on the RUT and larger NYSE.
Interesting codicil – JPY/USD slammed off of 113 05/05, hovered at 112, then shredded 113 on its way to 114.32 on 05/11. After the rise from 108 since 04/16, if the liquidity squeeze is back on, so will the carry be and a retrace for that pair would be in order. Watching closely.
Economically lost for decades, and with the BOJ owning half their bond and stock market, the sushi and sashimi from fish caught at Fukushima Daiichi would be safer to consume. Reminds me of THIS and Out...
Interesting codicil – JPY/USD slammed off of 113 05/05, hovered at 112, then shredded 113 on its way to 114.32 on 05/11. After the rise from 108 since 04/16, if the liquidity squeeze is back on, so will the carry be and a retrace for that pair would be in order. Watching closely.
Torquio - if you draw a trendline on USD/JPY highs you will see it slamming into resistance around the 113 mark. It seems to me with oil down so much and the JPY reversing slightly it is a matter of time before markets correct and investors seek the safety of the JPY.When "dollar" liquidity is tight, markets decline, when the JPY/USD carry is on to combat it, closest thing to the PPT out there, that is what drives the JPY up in value vs USD.
Economically lost for decades, and with the BOJ owning half their bond and stock market, the sushi and sashimi from fish caught at Fukushima Daiichi would be safer to consume. Reminds me of THIS and Out...
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