×

Japanese yen trade mystifies and could penalize

The yen's rapid rise against the dollar has been so mysterious that the experts are having a hard time predicting its next move.

Since the Fed's March meeting, where the central bank signaled a slow road to higher interest rates, the dollar has fallen more than 5 percent against the yen. On Thursday, the dollar's value against the Japanese currency skidded to a key target of 108 yen. That was a level some strategists were citing as the next stop after it smashed through 110, an important milestone that gave way just Wednesday.