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Mysterious FX cycle may challenge yen bears in 2015
Yen bears betting that the Japanese currency will keep declining for a few more years could be wrong-footed based on a mysterious 8-year pricing cycle that has proved accurate over the past four decades. That cycle calls for a long-term high in the dollar against the yen in 2015. That would run counter to the view of many currency specialists who expect the dollar, which hit a 7-1/2 year high against the yen this month, to keep rising beyond 2015. Since the introduction of a floating rate exchange system in 1973, the dollar has peaked against the yen every eight years with clockwork precision. "The cycle has been ... (full story)
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