2013-05-10

Meanwhile in Asia......

UK does not support an independent Tibet: David Cameron

Japan protests over Chinese article on Okinawa sovereignty

Taiwan protests to Philippines over fisherman's death
Taiwan demanded compensation from the Philippines Thursday over the killing of a crew member of a Taiwanese fishing trawler which allegedly came under fire from a Philippine government boat.
According to the Chinese reports, the Philippine vessel strafed the ship.

Japanese Government Bonds Halted Limit Down; Yields Spike To 10 Week High; Worst Day In 5 Years

South Korea Joins India-to-Europe Rate Cuts for Growth

Australian dollar rebounds after rate cut sell-off

China Yuan Hits New High on PBOC Guidance

Things are starting to pick up the pace. China is going to be squeezed by the plunging yen and now the won is likely to follow. The Australian dollar will start weakening as well. The rise in the yuan is coming at the worst possible time, as the U.S. dollar sets out on its own rally against other major currencies. China may be headed for a serious deflationary crisis.

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