Some facts:
Japanese are selling their foreign holdings converting to Yen because they need it to rebuild.
Yen/US par is highest in 16 years.
There has NOT been a flight to safety of US dollar. My charts have multiple glitches at the moment (great time for that to happen) but the US dollar from what I see is at its lows.
The Japanese currency situation, as I see it, means commodities fixed in US dollars become so much cheaper for Japanese especially with Yen higher. They need resources to rebuild.
When production ramps up again, situation will be reversed: Japanese will revert to form and BUY Us dollar to weaken their Yen and make exports to their big American markets more attractive.
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Last
8,668.2 |
Change
-89.000(1.02%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,757.1 | 8,757.1 | 8,648.4 |
| XJO (ASX) Chart |