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Thomas;
Mar 18 00:44 am
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All Comments by Darrel Whitten »Japanese Yen Poised to Renew 1995 High [View article]
Its a perfect storm in the currency markets too.
1) The yen carry has unwound as hedge funds blow up,
2) Sovereign Wealth Funds like Qatar which were 99% in USD two years ago are now down to 40% USD exposure,
3) "Bad boy" oil exporters like Iran and Venequela are now asking Japan to pay them in JPY instead of USD
4) US pension funds like CalPERs are reducing USD equities and shifting funds to international bonds, equities away from USD assets.
Ironically, individual Japanese investors are again loading up on USD and other foreign exchange investments on the assumption that the current blow-out in the Yen in will not last long.