JPY Spikes: Is The Japanese "This Time It's Different" Fairytale Over?
While the news in the US that 'BUDGET TALKS REGRESS' was enough to drive S&P futures lower after-hours; once futures closed, JPY (the market's new-old-new carry-trade friend) is getting monkey-hammered. In a reverse-intervention, we can only assume that Abe's colon is going spastic as he sees the last few days 'good' destroyed by a soaring JPY... algo-driven heresy we suspect but rest assured Abe is watching closely...
Totally appears to be catch-down for carry FX now that US markets are shut!!
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