05.02.2009 - Why investors have a yen for the yen
From Theglobeandmail.com: The yen has been supported by a quirk of the investing world known as "carry trading." Essentially, because Japanese interest rates were at rock bottom for so long, it was worthwhile for investors to borrow yen and use it to buy instruments in other currencies that had a much higher yield. The yen borrowings - at very low rates - were used in many cases to buy bonds in Australia, New Zealand, Canada and the United States that carried high interest rates..... Full Article: Source