⚠️ WHY THIS IS DANGEROUS FOR THE USD 💵
When Japan repatriates: $ENSO
- Treasuries get sold $NOM
- USD liquidity tightens $ZKC
- U.S. yields move higher
- Risk assets feel pressure fast
This is not about dumping everything.
It is about the marginal seller.
Even small flows matter when:
- Global leverage is high
- Correlations are tight
- Liquidity is thin
If USDJPY drops while JGB yields rise:
- Carry trades unwind
- Volatility spikes
- Everything reprices together
This is how silent cracks turn into violent moves.
ENSO
1.312
-5.74%
NOM
0.00991
-4.71%
ZKC
0.1244
-2.81%