Safety Sought: Yen Rallies As Markets Nervously Eye Potentially Dangerous Thursday

Safety Sought: Yen Rallies As Markets Nervously Eye Potentially Dangerous Thursday

So on Sunday, in our week ahead preview, we noted that Thursday would bring a number of potential land mines and that, as usual, FX would be the transmission mechanism for markets. We're getting a taste of that on Tuesday as the yen tops the G-10 leader board, rising to a six-week high against the stumbling dollar and tracking declines in Treasury yields. Here's a bit of useful color on this from SocGen's Kit Juckes: The correlation between USD/JPY and US Treasury yields remains stupidly
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