One of the strongest major currencies in the world since the onset of the 2008 crisis has been the Japanese yen. This is a dramatic change of fortune for what had long been - and what should be - a weak currency.
Click to Enlarge Take a look at this chart, which tracks the dollar/yen exchange rate. In late 2008, a dollar would buy you 110 yen. Today, a dollar will not buy you even 80. And remember, the dollar has been relatively strong over the past four years. The yen's performance against the euro or British pound would be even more dramatic.
Anyone who follows Japan must legitimately be scratching their heads in confusion right about now. In a market in which investors have been shunning risk for the past four years, why would the currency of the most heavily indebted major country in the world rise? (investorplace.com)
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