Last week we drew your attention to the fact that Japan’s Nikkei — one of the dogs of the whole year — was on a rare two-week winning streak. In other words, it was the best performing big market for two weeks in a row.
Well, it’s alive. From Doug Short, here’s the tally from last week:
Japan likes it when the US dollar catches a bid, because that means a weaker yen, and higher margins for the country’s exporters. Thus while dollar strength correlates with “risk off” for the rest of the world, Japan remains out of step.