Japanese Yen Is Showing Panic for US Equity Market

Despite the strong rally of the greenback, Japanese Yen managed to climb approach toward its one year high as investors seek alternative haven to escape from the crashing US equity market. Japan's central bank did not participate the rate cut yesterday which gave the extended rally for Yen. From 0.9600 to 1.0200, that is 600 point spike in just 3 days! Even Jim Rogers said he had been buying foreign currencies such as Yen and Swiss Franc, Yen looks like is due for pull back as soon as the US equity market reliefes.