Japan Consumer Confidence Plunges to the Lowest Point in Two Years (YCS, SJPY)

On Monday, Japan published its

plunged to 33.40 points in April. This is much below 37.30, expected by most analysts, and 38.30 recorded in March. It seems the recovery of world's third largest economy is still far away. In today's early trading, the Japanese currency lost ground to other main currencies. The U.S. dollar added 0.206% to its value to trade at ¥80.94, while Euro gained 0.087% to stand at ¥114.14. Traders who believe falling consumer confidence is another sign of a postponement in Japanese recovery might be interested in shorting the Japanese currency. As a result, these traders might be attracted to ProShares UltraShort Yen ETF

or ETFS Short Japanese Yen Long US Dollar ETC ETF (SJPY).