Mrs Watanabe, not repatriation, driving yen volatility

There has been a lot of talk about Japanese insurers repatriating their foreign currencies into yen, but it was retail investors, not insurance claims, driving yesterday’s volatility.
March 18, 2011

Foreign exchange markets reflect such a diversity of views that they can often do baffling things. Yesterday’s moves in dollar/yen are a good example.

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