Dollar downed

Cover story


The appreciation of the yen under Yen100 against the dollar shook Asian foreign exchange markets in mid-March. Volatility in the currency pair rose to levels rarely seen in absolute terms, with any appreciation in the Japanese currency sparking a sharp rise in implied volatility.

Unlike the crises in currency markets in 1998 and 2003 when the yen spiked sharply and briefly - over a matter of just days - this latest move had been building for months. Turbulence in money markets hit highs in August

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: