Sunday, July 18, 2010
The Most Under-watched Financial Story of 2010
The Japanese Yen is the largest and most important currency in the world, after the Dollar and Euro, yet I hear almost no talk about the incredible appreciation. And what is even more astounding is that the BOJ has held rates at 0.1% and Japan has a massive national debt, yet they have so far unable to prevent this appreciation against the dollar. What this says about the world financial system I am not sophisticated enough to fully diagnose, but I wish it would get more press!