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Japan’s Economy in the Gutter: Will the Yen Follow Its Lead?
Historically speaking, the Japanese yen has proved to be a safe haven against global turmoil. Right now, however, Japan’s economy is among the worst hit of all the global powers. It is ill prepared to weather the global storm and it’s falling like a rock.
That’s why, this time around, as Japan’s economy falls away, I think there’s a very good chance the yen could drop as well.
Obviously, this would be very bad news for the huge numbers of speculators and institutions that have literally bet their existence on yen-based hedging strategies. But while a freefall in the yen would be…
24Feb2009 | Money Morning | 0 comments | Continued
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