The yen went down a little on news that Japan retail sales slid for the 13th month in September. Sales were down 1.4% from a year earlier although analysts estimated that it would be down 1.6%. Last week’s five-day Silver Week holiday was expected to drive sales, but reports that unemployed and smaller bonuses is leading to frugality on the part of consumers which account for 50% of the Japanese economy. I still don’t like the yen.
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