Has something changed or is Japan's currency simply taking a breather, having jumped by a third in value versus the dollar and the euro since June last year? Certainly a number of trends could now be weighing on the yen. For a start, the blind rush of Japanese housewives repatriating their savings and local currency investors scrambling to make margin calls has calmed. As the popularity of investing overseas rapidly ebbed, the yen may have appreciated far too quickly.
是发生了什么变化？还是日元只不过是在略作喘息？自去年6月以来，日元兑美元和欧元汇率均跃升近三分之一。当然，眼下的许多趋势都可能对日元形成压力。首先，日本主妇将储蓄汇回国内、本币投资者争相追加保证金的盲目热潮已经平息。由于投资海外的吸引力迅速消退，日元可能升值过为迅猛。
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