by Martin Armstrong
Armstrong Economics
The Yen has reversed some of its gains from last week but not before attempting more early in the day. Having hit highs early in the session it spent the majority of the day drifting lower to close over the 108 handle. The Nikkei, therefore, saw the exact reverse having hit session lows early then spent the day edging back to unchanged. We did not witness the same uncertainty in China with the Shanghai and Hang Seng both making ground on the day supported by some early inflation data, which although not matching forecasts did equal the previous month. PPI again eased but less than previous leaving the market a little perplexed.