The Yen was weaker v the dollar today, but has now reversed is heading higher now. The fate of the samurai in Japan lies with its currency. The 100 level is thought to be the rubicon by which the entire nation of Japan swims down a collective toilet bowl, once breached.
Bear in mind, yields are sinking lower. The negative rate policy has been disastrous for asset prices.
BEHOLD the deflationary vortex.
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man its going to be a race to crash. who wins japan or Europe?
Nice stairstep down since 120
they tried to hold that certainly, with the notional “threat” that they can keep getting it higher, every move has a statistical peak you Bj-Boj Kuroda-Jap powerholes, you fucking failures, welcome to the view from 103, looking up at 120
That 100 level seems like a moth to flame target. It is the 50% retrace of the 2007 peak and 2011 trough and is such a big beautiful round number.
Negative interest rates…I give you 100 to hold for a while and I get back 98. How is that not the definition of deflation. That is a tightening of financial conditions.