The chart was extracted from a note dubbed "Sticking With Our Yen Short" issued to Risk Manager Subscribers on September 15, 2010 at 3:35pm ET.
EXCERPT:
We aren’t short the yen purely based upon the catalyst provided by the current batch of Fiat Fools leading Japan. We think the top in the yen is around yesterday’s pre-intervention level of 82-83 per dollar and we see downside on a 3-6 month go-forward basis around 6-9%.
The reasons for our bearish stance are: the potential for both waning upward Chinese pressure on the yen and U.S. dollar stability.
Subscribers and Free-trialers have access this and other Macro Select notes in their entirety, including access to Hedgeye's real-time portfolio positions.
