It was a cake befitting a queen - or the Duchess of Cambridge.
All eyes were on Catherine Middleton's gown and hair this Friday, but what people really wanted to see was the cake -- all 8 layers of it.
Inside the cake was fruitcake -- but not like American fruitcake. British fruitcake is liquere-soaked and heavy, but not as dense as it is in the US.
It is prepared traditionally by baking, then wrapped in cheesecloth, brushed with brandy or rum before it is covered with marzipan.
White fondant topped the royal cake.
I am going to go over some Japanese --Yen crosses. The USD/JPY is hovering above 84.00. The Euro is strong and rallying against the Yen. The Sterling lost to the yen, but is in a bullish attempt by the end of the week. The AUD/JPY topped off, but has not confirmed the topping action. The CAD/JPY declined most of the week, but is supported above the previous consolidation zone. As expected since the intervention, the CHF/JPY is indeed the only one with a bullish attempt. By week's end however, the Japanese yen pared some of the week's losses.