Going long USDJPY
​Japan’s current account balance came out on the strong side today. It is the second highest number ever (March 2007 remains the highest); the trade balance was also strong. The yen reacted by weakening sharply. This tells us that the timing to sell it again has arrived.
The trade data’s strength is mostly the result of crashing commodities over the last 16 months, more than a jump in exports (-7% yoy in March)...
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