The Japanese Yen crosses continue to be at whim of the US stock market.
The Dow was up more than 100 points after lunchtime in NY but then reversed all of those gains to hit a low of 11086.95 (-62 for the day) before ending up 81 points. This type of rollercoaster ride is something traders have unwillingly grown accustomed to this past week as 100 point swings in either direction become the norm. The CGPI index, trade and current account balances were better than expected, but as we have suggested, these numbers had little impact on the Yen. Consumer confidence is due for release tonight and they should be weak, just like the Eco Watchers survey.
