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Yen on Intervention Watch

As major global economies are beginning to feel the threat of another bout with recession, Japan is dealing with an extra challenge: An unwelcomed strong currency. Weak structural economic fundamentals around the world and tough austerity are proving to squash the feeble recovery. And the likelihood of central banks returning to, or intensifying, the easy money policies are growing. But these dynamics have not held back the yen’s surge. In fact, Japan’s currency has gained over 40 percent against the dollar since the economic crisis erupted in the middle of 2007. And despite the signs of global economies slowing, 8 percent of those gains have come in the past two months. Here’s the question: With an…
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