Photo: Leechimondo san / Flickr
China is back after its one-week Lunar New Year holiday, and stocks are up. China’s Shanghai Composite is up around 0.4 per cent to start the week.Japan’s Nikkei, however, is up a solid 2.0 per cent.
G20 leaders, who have been meeting in Moscow, declared that there would be no global currency war. However, there wasn’t much mention of Japan, which the markets appear to be interpreting as a pass.
Fed Chairman Ben Bernanke’s recent language has also been interpreted as a green light for Japan to devalue.