Why has the UK Pound appreciated so much against the Japanese Yen? At the moment it is over 156 Yen to the UK Pound. Not too long ago it was the low 120s Yen to the UK Pound. That is a lot of difference.
Every day, it swings quite widely, but I find this, and the dramatic appreciation, hard to understand. On the face of it, goods made in Japan should get less expensive in the UK.
Perhaps an economist can explain what is going on?
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