by Martin Armstrong
The market was right to focus on the Japanese Yen over the past few days having witnessed a convincing dip in the Nikkei that many wish they had bought. Having been concerned last week of the 16k level, tonight we are discussing the 17k point after a 530 point rally today. Both Shanghai and Hang Seng were dull by comparison but both made ground closing up around 0.6% on the day. The PBOC fixed the Yuan at the lowest level in almost three weeks at 6.4891 earlier today but a little concerning as it is ahead of tonight Q1 GDP release (estimate is for a 6.7% reading).