In the past couple of months, a lot of attention has been placed on the euro. The single currency has fallen hard and fast. But few people are focusing on the strength of the Japanese yen.
The Asian currency has appreciated rapidly over the last eight months against the US dollar. But more importantly, it has strengthened against the euro. From an exchange rate of 140 yen per euro back in the beginning of the year, it has jumped to just 108 yen per euro in the month of June. That’s a 23% advance in a little over seven months.
[Read more...]
Durable Goods Fall, But Business Spending is Up
As Chuck informed all of you on Friday, I have got the conn on the Pfennig today and tomorrow as he was called down to Jacksonville for a few meetings. As always, Chuck left me with a few tidbits to get me going, so I’ll kick off today’s missive with Chuck’s view of the markets:
[Read more...]Click for detailed story