“Yen”-sanity: Markets Swoon At The Open After Japanese Currency Soars
On Friday, I outlined how Japan’s FX Catch-22 could end up weighing on US equities. Make no mistake, it’s an important dynamic to understand. Generally speaking, risk moves opposite the yen and there’s also carry unwind when the JPY moves higher. One hot topic in Japan recently has been Prime Minister Shinzo Abe’s plan to…