The dollar index is suddenly legging lower again this morning as USDJPY snaps back below 107, taking out last week's lows.
A chaotic overnight session, thanks to Navarro, but Yen is bid now with some market chatter about Softbank's flows...
GPushing yen back to its strongest against the dollar since early May...
This jump in yen sent the dollar lower again...
And gold is gaining on the dollar weakness...
Interestingly the trend in the last two years has been yen devaluation...
...but the last month or so has seen some attempts at stabilization...
We do note that Fed's Jim Bullard is making headlines on proving "great" forward guidance and not seeing any bubbles but nothing new there as a catalyst for this move.
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