In the past two weeks Dollar/Yen declined at the fastest rate since 1998 aka. Asian Financial Crisis
The Yuan/Yen exchange rate declined even faster...which makes sense since Yen is strengthening versus dollar and Yuan is weakening versus dollar.
http://www.investing.com/currencies/cny-jpy-historical-data
This is why Kuroda lost control of the Yen in the past week:
Yen/Yuan w/S&P:
The Exodus is accelerating...
Rate of change (lower pane):
Yen/Yuan (black) versus CNY (Yuan/Dollar):
The correlation between the Yen/Yuan exchange rate and China's FX reserves is 83%:
Correlation to S&P: 86%
YenYuan / S&P ratio:
China was on their five day New Year's holiday, but Hong Kong and U.S.-listed Chinese stocks (shown) were down -8% relative to the Shanghai in the same period...
"While you were on holiday, we sold your stocks for you. You can thank us later."
