1. Behind Yen's Record Surge.
- Author
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Lauricella, Tom, Martin, Katie, and Shah, Neil
- Subjects
- *
JAPANESE yen , *FOREIGN exchange , *NATIONAL currencies , *MARKET volatility , *U.S. dollar - Abstract
The article discusses circumstances that contributed to a temporary 4.6% rise in the Japanese yen against the U.S. dollar that happened within minutes on March 17, 2011. The rise was coincident with a brief shutdown of electronic trading that occurs each day, during which volatility can be unusually large. Exceptional purchasing activity by individuals and hedge funds at that time were also factors.
- Published
- 2011