Posted: Mar 12, 2013 16:18
The yen plunge of the past two days threatens to re-write the rules of trading JPY. We look at the move and the disjointed risk picture it unravels. Indices are tumbling across the board after high profile failure to follow-through the highs, while gold rises to its highest level relative to S&P500 in 2 weeks. Take a look at the historical GOLD vs YEN chart below. Ashraf asked imagine how low would the S&P500 be today if ETrade did not rise 24% as a result of Morgan Stanley's aquisition of the online broker.