USD/JPY trims gains. After rising to its highest level since 2012, the dollar-yen cross’ massive breakout has finally stalled, clipping its gains by 0.09%. Traders have been piling on the trade in anticipation of an impending rate hike as well as stronger U.S. data but the fact that short end rates haven’t really made any significant changes has left some wary. MarketWatch
Asian futures point to a u-turn in the HK, Chinese markets. Despite dropping like stones Thursday, the region’s equity markets may just yet rebound after futures on the Hang Seng China Enterprise Index as well as the FTSE China A50 Index posted a 0.2% gain. Contracts on the Nikkei meanwhile are currently bid at 20,550, below yesterday’s close. Bloomberg
FIFA president speaks out. FIFA president Sepp Blatter told an emergency meeting of the soccer organization that he will not resign, despite the corruption charges being thrown at FIFA. Leaders from UK Prime Minister David Cameron to European soccer head Michael Platini have told Blatter to call it quits before the election for his fifth term. Russia’s Vladimir Putin seems to be one of the few still backing Blatter. BBC
Illinois can’t catch a break. Former Republican House Speaker Dennis Hastert, from the state known for political corruption and severely underfunded pensions, has been charged with evading anti-money-laundering rules. Hastert allegedly agreed to pay $3.5 million to a person “to compensate for and conceal [Hastert’s] prior misconduct against” said person. Hastert resigned from the board of directors for the Chicago-based futures exchange operator CME Group Thursday. Wall Street Journal (paywall)
A BIG goodbye. World-renown New York City toy store F.A.O. Schwarz will be closing in July. The store’s owner, Toys “R” Us, doesn’t want to pay the high rent prices any more, and will be moving the brand online. No word yet on where the giant piano from Tom Hanks’ movie “Big” will be going. New York Times (paywall)
Get out of the water! To celebrate its 40th birthday, shark-tastic film “Jaws” will be heading back to theaters this June. Entertainment Weekly
Photo credit: Japanexperterna.se via Flickr