Yen: No Relief From Trade Balance
• Sell yen on Japan’s ongoing trade deficit
• The yen is still a sell even if the deficit returns to surplus
Back in 2011, US equities seemed to benefit no matter how incoming US economic data looked. Any evidence of economic recovery was inherently good news for stocks. But weak economic data was also supportive on perceptions that further Fed easing had become more likely.
Read the full report: UBS