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  • Currency ETFs: What Does the Yen's 10%+ Drop Tell Us?  [View article]
    Yen's strength has been powered by the rewinding of the Yen Carry trade by Japanese retail investors. By year end 2008, if is clear that rewinding was near completion. That the strength of the Yen will bring big trouble to the export-dependent Japanese real economy is no big surprise, and shouldn't cause both the FXI and EWJ to decline together, as the author theorized.

    The new risk factor that has begun to catch investors' attention is in Japanese politics. The Liberal Democratic Party which esscentially governed Japan for more than 50 years seemed finally doomed to loss the mandate to govern later this year. On the one hand, LDP is deemly unpopular, on the other hand, the Japanese, one of the most insecured people in the world, are deemly worry about the uncharted political future of a two-party system (finally after 60 years the US gave them a democratic constitution)

    The drunk Finance Minister video certainly brought everybody to the realization how incompetent the LDP has become.
    Feb 26 23:52 pm |Rating: +1 0 |Link to Comment
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