My picks: Buy USD/JPY at 95.75
Expertise: Global Macro
Average Time Frame of Trades: 1 week
Japan’s gross domestic product shrank an annualized 15.2%, the worst performance since 1955, the Japanese government said earlier. This is a clear example that most of these recent gains in Asian stocks might be speculative driven and we possibly will see a sharp correction on riskier assets if core economic indicators like the GDP don’t show an improvement. That said, I will continue to look for opportunities to sell rallies on export dependent currencies like the Japanese yen.
