Flight to Maximum Pain: Yen at 17 Month High vs Dollar

I always find it amusing to see the Yen rise during times of tumult. The yen carry trade is always a topic of discussion during hard times. Fears of imminent collapse and subsequent hand wringing rule the day when the yen reaches certain levels v the dollar.

Since the beginning of the year, the yen has been doing nothing but rise v the dollar and people are starting to take note of it.

The rise of the yen is supposed to coincide with the fall of risk. Year to date, the yen is higher by 9% v the dollar.