And consumers still don't want to spend...

I have to confess that when my alma mater Morgan Stanley announces earnings, it still tugs at the heart strings. We endlessly outperformed expectations, but laughed because we knew there were tons of latent profits sitting on the back books. The stock would rocket to trade at a luxurious five times book. We were the invincible Masters of the Universe.

The yen may well fall back over the next few days…

Has the dollar cycle high against the yen begun to makes its impact..?

Also, will Aso's stimulus package drag the Japanese economy from the doldrums?

Are yen bears entering a "bear trap" as a cyclic high in the dollar looms?

Last week was a relatively quiet week in the forex market. This allowed the yen to weaken on the back of the poor economic numbers which continue to highlight how the dead cat bounce in the domestic economy during the global expansion years is now returning to haunt both the government and Bank of Japan.

The Fed's plans to print money sees the yen rally.

It took a while, but Japan’s economic plight has hit the yen.