June 13, 2013
US markets are currently pointing to their third straight down day following a stunning night in Japan.
The Nikkei crashed 6%, while the yen surged, causing USDJPY (dollar vs. the yen) to lower to 94. Remember, not long ago it was well above 100.
The “Abenomics” trade is unwinding massively, in what had been the world’s hottest market. Now it seems to be turning into a nightmare. It was a rout elsewhere in Asia.
This article was posted: Thursday, June 13, 2013 at 4:31 am