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By Tim Seymour

What has you more concerned right now in Asia? China or Japan? Which has more questions surrounding its monetary policy? Probably Japan right now. Did you ever think you would be saying that? OK, enough of the rhetorical questions.

The yen was the strongest currency last night and overshadowed great data out of China. Japan's Finance Minter Taro Aso was surprised at the rapid move of the yen from 78 to 93, as this pace is too fast. But I'm not sure you should read a 180-degree turn in policy from this.

In fact, going into the important G8 meeting in Russia, with currency wars threatened, this may only be tactical rhetoric. I would not expect Japan to stop presiding over a weaker yen policy. In fact, I believe the yen to U.S. dollar (USD/JPY) goes to 100 before it goes to 80. That's my call.

Source: Yen All Over the Map