Der schwache japanische Yen ist eine tickende Zeitbombe

Look at 2008, a liquidity crunch caused an unwinding of carry trades which caused the yen to strengthen which caused more carry trades to need to be unwound, rinse and repeat. That along with capital inflows to repair from the 2011 earthquake caused the yen to peak at about 77 to the dollar, or more than twice what it’s worth today.

This one again

Thanks Sanae