Well, here’s something a bit different.
The Nikkei is having a very tough time of it today; it opened lower and has pretty much continued to lose ground.
USD/JPY, on the other hand, is hanging in there relatively well. Its 40 points up from its lows in NZ this morning and hasn’t dropped away from its earlier highs to much of an extent at all (well, hardly anything, its knocking on the doors of session highs as I type). Unusual – the correlation has been much tighter recently.
Nikkei chart:
