This Yen Reversal Won't Last
The short yen trade suffered a sharp reversal overnight on comments from Japan's finance minister, Taro Aso. Aso inferred that the yen's recent sharp slide was too abrupt for his liking, and the currency responded with its biggest jump in nearly two years.
To the casual observer, this might seem like a contradiction. After all, the election of Prime Minister Shinzo Abe was predicated on the promise of yen weakness. That theme resonated after the currency reached multi-decade highs in the wake of a series of natural disasters. Now his finance minister has engineered a reversal, an act that has some yen bears pronouncing Aso's name in a slightly altered manner today....401 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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