The stronger the yen, the more panic in the US stock market?
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Overnight, the Japanese yen surged significantly, suspected to be due to a joint intervention in the foreign exchange market by the US and Japan. Statistics from Société Générale show that since the summer 2024 stock market sell-off (closure of yen carry trades)…… there has been a peculiar relationship between the performance of the yen and the volatility of US short-term stocks: the stronger the yen (red line), the higher the volatility of US stocks (gray line)
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