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FXY - Relief Bounce On Tuesday But Turnaround Not Secure
Invesco CurrencyShares Japanese Yen Trust
Overview
Bottom-picking after officials step up efforts and some optimism creeps in is helping lift spirits today. As one looks at the equity bounces, it is important to remember that among the biggest rallies take place in bear markets. Nearly all the bourses in Asia-Pacific rallied, led by a 7% advance by Japan's Nikkei and an 8%+ surge in South Korea's Kospi. Most other markets were up 2-5%. Europe's Dow Jones Stoxx 600 is up nearly 5% after falling 4.3% yesterday. US stocks are firmer, and early indications suggest 3-4% early gains. Bond markets are