Monday, July 28, 2008

EUR/JPY

just getting back into the swing of things after an extended vacation. for all the movement in the markets the last month and a half it's telling that things are mostly right where we left them. that's summer for you.


is that a top on the euro/nippy exchange rate? I'd give it a 50/50 chance, though new highs should convince us otherwise.


be on guard for an orthodox deflationary environment over the remainder of the year.