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Why this move in the yen is so darn scary

The rally in the yen doesn’t appear to be stopping anytime soon and its unrelenting strength has traders worried it could quash a struggling Japanese economy. “Markets are really questioning Japan’s ability to stimulate their economy going forward,” said Chris Gaffney, president of EverBank World Markets.

The world’s third-largest economy expanded at an annualized 1.9 percent rate in the first quarter, a fragile recovery from the fourth quarter’s contraction at an annualized 1.1 percent rate. And a strong yen will continue to weigh on growth in the export-driven economy. On Thursday, the Japanese currency hit 103.58 …Read More

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