Loading ...LAND OF THE RISING YEN
The US Dollar is very strong today in all currencies EXCEPT the Yen which is even Stronger.
Ergo the Yen is up large vs the Euro and Pound and Commodity currencies et al.
Usually a strong yen = Strong Gold
But this strange move is negating gold for now
curious.
War ?
The European Union is planning to switch its payments to the Euro for its oil purchases from Iran, eliminating United States dollar transactions.
Additionally, if Italy was to leave the EU, this action would strengthen the euro in the long run
(of course lots of European banks would suffer big time!)
So why is the Euro tanking then ?
Why? Quite obvious, CDS premiums on all Italian banks going up big time, so it is starting to resemble the 2011 time frame, the question is will Italy leave for real or will the Germans win again.