During one week in August 2007, the yen rose 4 percent versus the U.S. dollar, 9 percent against the Australian dollar, and 11 percent relative to the New Zealand dollar.

Question

Quizplus · Accepted Answer

During a week in August 2007, there was significant volatility in the currency markets, and the yen did indeed appreciate strongly against several currencies, including the U.S. dollar, Australian dollar, and New Zealand dollar, as investors unwound carry trades amidst global financial uncertainty.

During One Week in August 2007, the Yen Rose 4