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Why the Yen Will Sell Off Now

Lastly, the so-called "fear trade," involving buying yen due to anxiety over the conflict in Ukraine, looks to be easing.

Russian President Vladimir Putin said Tuesday he did not plan to take over other regions of Ukraine, one day after Crimean citizens voted to become part of the Russian Federation.

SPDR S&P 500 (SPY) posted a strong comeback on the news after last week's panic sell, believing now that the elevated tension between NATO countries and Russia will not spark a war.

The current global environment is shaping up for a weaker yen, which could lead traders to start selling as the currency approaches its February highs. FXY Chart
FXY data by YCharts


At the time of publication, the author had no position in any of the funds mentioned.

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This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.

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