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The Massive Move in Won/Yen Cross
Add currency wars to Asia’s geopolitical tensions next year as a result of the Abe landslide.
The Korean won/yen cross has strengthened a stunning 19.8 percent since June 4th. That’s a big move in relative prices and competitiveness between the two countries.
Large Japanese exporters, who have been suffering and adjusting to the strong yen, are now getting some relief and a massive boost from the currency move. Witness the move in the Nikkei.
Also note the strong correlation of won/yen cross and the Nikkei. Both peaked in March and bottomed on June 4th.
Blessed are the weak for they shall inherit the earth.
(click here if charts are not observable)
2012-12-17 05:22:31
Source: http://macromon.wordpress.com/2012/12/16/the-massive-move-in-wonyen-cross/
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