Yen gives back some of yesterday's big gains


Dollar/yen is ahead 0.3% to ¥101.26 after plunging below ¥101 yesterday amid the rout in stocks in the West. The dive was felt in the overnight trading session in Japan where the Nikkei plunged 4.2%, bringing its losses to what can be considered a crash-like level of 15% in a month.

Putting the 15% dive in perspective, the Nikkei was last at this level at the start of November. If January's move is a crash, than the move at the end of the year was a blow-off top.

Japan ETFs: DXJ, EWJ, FXY, YCS, DFJ, JYN, DBJP, NKY, EZJ, EWV, YCL, SCJ, DXJS, JSC, ITF, JPP, JPNL, JPNS, FJP

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Comments (3)
  • Deja Vu
    , contributor
    Comments (1814) | Send Message
     
    With Abenomics printing money like crazy, where is all that money going then?
    4 Feb 2014, 07:58 AM Reply Like
  • june1234
    , contributor
    Comments (4406) | Send Message
     
    $12.3B left EM in January alone going into US treasuries for most part
    4 Feb 2014, 08:55 AM Reply Like
  • spald_fr
    , contributor
    Comments (2814) | Send Message
     
    The TBTF banks are creaming EMs. Its like robber barons all over again.
    4 Feb 2014, 09:00 AM Reply Like
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