The Yen hasn't been bought/sold at $1 = Y101 since January 2005.
It's getting close to that range again.
Why?
1. Individuals and investors are waiting for it to go there.
2. U.S. Federal Reserve Board Chairman Ben Bernanke is seen as approving of a weak dollar.
3. U.S. currency can regain ground IF dollar-buying individuals and import-oriented companies capitalize on yen spikes.
4. Some are waiting for the yen to rise further to make for an
attractive opportunity to invest in foreign currency.
5. The European banks can't figure out when to buy or sell yen.
Whatever the result, Japanese products are becoming more expensive and imports are looking more desirable.
Still...if it ain't good, the Japanese won't buy it no matter how cheap it is.
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