Yen

The recent fall in the dollar and yen are yet another indicator of investors moving to risk assets. What does this mean for further dollar/yen weakness?

As Zero Hedge has noted before, we think the market was underestimating the severity of the crisis in Japan. As we looked at the numbers, we couldn't help but think that some were being a little optimistic in light of the macro factors at play. At month end, the market reacted sharply to almost consistently bad news coming out from Japan; unemployment, production, retail and the Tankan indices all came out below expectations.

As Zero Hedge has noted before, we think the market was underestimating the severity of the crisis in Japan. As we looked at the numbers, we couldn't help but think that some were being a little optimistic in light of the macro factors at play. At month end, the market reacted sharply to almost consistently bad news coming out from Japan; unemployment, production, retail and the Tankan indices all came out below expectations.

As Zero Hedge has noted before, we think the market was underestimating the severity of the crisis in Japan. As we looked at the numbers, we couldn't help but think that some were being a little optimistic in light of the macro factors at play. At month end, the market reacted sharply to almost consistently bad news coming out from Japan; unemployment, production, retail and the Tankan indices all came out below expectations.