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Why this move in the yen is so darn scary

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Yen soars as BOJ holds off

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.