UJ - when they talk about a repatriation of funds, this is what happens. I opened shorts on UJ at 81.5 on Tuesday once I accepted the demand for Yen was contrary to obvious expectations.
The sell off in equities is one source. So we are seeing the flow of funds in real time through equities and the Yen.
It can and will only be a temporary trend.
My mind still says a flight to gold is on the cards for the many who might not understand it. It would reinforce the inverse USD/gold price relation, with broader commodity indexes indicating the health or otherwsie of the global economies.
AUD will track with commodity demand, most closely to my proxy is using the DJAIG commodity index http://stockcharts.com/h-sc/ui?s=$DJAIG&p=D&yr=1&mn=2&dy=0&id=p04848452815
Don;t let the noise of the Japan incident drown out the broader weakness in the global trends.
