Hi there, everyone. Welcome to the Real Vision Daily briefing. It's Wednesday, April 13th. I'm Maggie Lake,

here with Darius Dale, founder of 42 Macro, and we are joined live by my colleague,

Weston Nakamura. For those of you who follow Weston on Twitter, you know he's been all over

this year's story and the Japanese currency broke through some pretty significant levels today.

So he was nice enough to get up early. I always think I'm going to say, stay up late,

get up early. I'm not sure it matters Weston because you never sleep these days because you

you're all over this story. So what do we need to know? What's going on?

Yeah, thanks for allowing me to interrupt you once again, Darius.

I love it, man. You're my eyes on the sky.

Yeah, Japan blows up every time, you know, you're on the daily briefing. So, you know, delayed

indicator, but yeah, so just very quickly. So, Dalian, as we know, the yen has been getting crushed.

The yen actually year to date is the second worst performing currency and it's second just by a

hair to the Turkish Alira. And if you actually do it from March, it is the worst performing currency

and that includes the Russian rubble as well. So, Dalian broke through a very key level,

125 86 just after Japan cash closed today. That was that was level that was tested a few times failed

or, you know, held, but it failed today. And then you saw an immediate jump into Dalian in the

126 handle for a two-decade high. So the significance of 125 86 is that that is the high

print of BOJ governor Kuroda's tenure. So Brian on chart one. If you take a look at this chart,

it's basically, you know, that 125 86 was made back in 2015, shortly before the August 2015

China U1 Devel. But basically from 2013, Kuroda took Dalian from under 80 to 125 86 since like

6% move in two years. After hitting that level, Dalian, you know, fell as low as like it broke

below 100 on Brexit Day in 2016, but basically kind of just me ended around. But, you know, right now,

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