Nothin’ like a new 52-week high in the Dow to help the yen weaken… With the Dow running higher on what was a surprising lack of even a minimal taper from the Fed, “Septaper” is not to be. As long as the Fed will continue to support the Dow and keep the pressure on treasuries until perhaps later this year, the equities bulls have reason to find momentum through 15,600. The previous high the Dow took out was the August 15,658 high. As long as there is enthusiasm behind equities, look for yen weakness. The EUR/JPY is positioned well to benefit from both the U.S. dollar weakness and the equities strength and it has ... (full story)