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Archives February 2011

Ratings Downgrade “Dents” Japanese Yen

Last week, S&P fulfilled rumors by lowering the Sovereign credit rating of Japan. The move immediately sparked headlines filled with words like “roil” and “turmoil,” and analysts predicted the beginning of a massive correction, like the kind that I forecast in January. I decided to wait a few days before posting on this story, in order to wait for the dust to settle. I’m glad I did, since the Yen’s stubborn refusal to slide further beggars some kind of explanation!