Last week, the Nikkei was the only major global stock index that actually produced gains.
Today it rose sharply, while other markets are flattish or down. It makes sense that it would trade the opposite of other markets right now. It’s the one country that clearly benefits when the dollar is stronger (and thus the yen is weaker), and so while in most places, dollar strength equals “risk off” for Japan it has totally different ramifications.
Certainly a pattern to watch.
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