from Zero Hedge:
Nikkei futures rallied post-Fed into the Japaense open (despite weakness in USDJPY) and then when trade data struck (and exposed the utter failure of competitive devaluation), everything went into freefall. The Nikkei crashed 700 points and USDJPY plunged to its lowest since QQE2… and then – on cue – “someone” started panic selling JPY…
…. which prompted us to summon the cartoon character at the head of the BOJ as follows:
YEN CLIMBS PAST 110.99 PER DOLLAR TO STRONGEST SINCE OCT., 2014. Time for Peter Panic
— zerohedge (@zerohedge) March 17, 2016
And sure enough, just moments later right on cue “someone” started panic selling JPY, sending theUSDJPY soaring higher by over 100 pips.
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