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Thursday, May 9, 2013
USD/JPY and SPX Minute Charts Dollar/Yen Catapults Over 100 First Time Since 2009
Banzai!! The BOJ is beating the yen relentlessly as the dollar jumps higher. The dollar/yen catapults over 100 for the first time since 2009. Note the pink line and the effects on the SPX, straight up to 1635. However, interestingly, while the dollar/yen is hanging out at 100.62 right now, and the dollar is up to 82.80, the SPX commits hari-kari and collapses. There is a rumor about the Fed 'tapering' QE that may be causing the separation at the top and the big drop in the SPX. In light of this morning's discussion on asset relationships, it is interesting to see if the strong dollar, if it now bounces, and subsequent weakness in copper and commodities, will negatively affect the broad indexes, or, if the central bankers continue to send markets higher. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
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