It's a theory
Ok, it's quarter-end everywhere and fiscal year-end in Japan so that could be the answer to every question about market moves this week.
However, a separate catalyst for yen weakness may North Korea. Reports continue to circulate -- citing Xinhua -- that Kim Jong Un's surprise visit to China this week included a commitment to de-nuclearization.
North Korean worries have certainly caused yen strength in the past and so it holds that it would spark some weakness as well.
The problem is that the story isn't just yen weakness today. Yes, the yen is the weakest major but it's only 0.4% weaker than the Swiss franc and down 0.5% New Zealand dollar.
Broader themes of risk appetite/aversion aren't exactly universal either. Sure, gold is down but Treasuries are flat and stocks are all over the place.
In any case, I think we can all celebrate a world with fewer nuclear weapons.
