why is dollar rallying vs. yen?

Is that a proxy for us confidence?



I thought they might be de-coupling but then I looked and nope.

 

risky assets are looking great which means the carry trade is back for how long I have no idea

 

Unbelievable:

NZD/JPY +3.5%
AUD/JPY +3.2%
CAD/JPY +2.4%
GBP/JPY +2%
EUR/JPY +1.75%

USD/CAD nearing parity, EUR/USD at all-time highs, USDX a hair from all-time lows. Nothing like driving a rally by desecrating the dollar..