It seems like it is about time to take a trip to the US if you were a Japanese citizen.
The currency's 14 percent gain against the dollar this year and 30 percent advance versus the euro prompted Japan's government to announce last month it may buy or sell currencies to influence exchange rates, as the world's second-largest economy stumbled. Gross domestic product shrank by an annualized 3 percent in the second quarter as exports dropped 2.5 percent, according to government data.
I think you might see quite a few Japanese in Europe if the yen carry trade start to unwind itself. Too bad Japanese exports and automakers are really going to feel some pain in the next few months. It could be about time to dust off the PowerShares DB US Dollar Index Bullish (UUP) as the dollar strengthens for a while.
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