If you're searching for the definition of a swoon, you could do worse than look at the yen over the past two months. Worries that Japan will soon embark on a new aggressive round of monetary stimulus has pummeled the currency of late.
So why is the yen rallying now?
To some extent, traders who sold the yen against the dollar are just booking profits. But Sean Callow, a senior currency strategist at Westpac Bank, thinks something else might be at work.
"From our point of view, you can't make a fundamental case for the scale of the gains and the speed that we've seen in dollar-yen over the past couple of months," he told CNBC. "We're not going to be too surprised by any particular pullback."