Yen continues to soften
The yen is hitting new lows as higher energy prices inspire a fresh rotation into reflation trades.
In Friday's wrap I highlighted the AUD/JPY chart and the potential for a break above the September high. That's exactly what we got today as that move follows earlier breakouts in CAD/JPY and USD/JPY.
I'm going to take a deeper looking into the causes of yen weakness today and what that means for global markets and the global economy.
For now though, the yen charts tell the story.
