Yen/Euro Relationship Nears Crucial Moment
I've been addressing the behavior of credit markets over the past two weeks. They seem to be sense that something akin to a credit event may be underway in global financial markets. This has coincided with a steep selloff in the euro and flight-to-safety trade in currencies, which tend to perform well in risk-off periods.
The Japanese yen tends to be highly correlated to the direction of Treasury prices, rallying when yields fall. With the British pound declining on bets of further stimulus from the Bank of England, money has had fewer places to go to protect itself from a European event....219 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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