No country (or mythical being) can withstand the wrath of Ambrose Evans-Pritchard. In his column, just published, he says the Japanese yen “has to give.”
The problem for AEP would be to find a currency to sell the yen against, because he’s so bearish on everything.
Bonus commentary for Stephen Jen, who is the best of the best:
Stephen Jen from SLJ Macro Partners said the global storm is drifting eastwards into Asia, opening a “third chapter” of the crisis that will last well into 2013. “Many analysts have declared that the low in the global economic cycle is in place. We are not convinced,” he said, predicting a rise in currency protectionism.
