By | May 21 2010 3:48 AM

A clear sign that the economy is in severe flight from risk is the massive surge in the value of the Japanese Yen against every currency pair these past few days. Even against the resurgent Euro, the JPY has managed to gain over 1,500 pips by moving from 128.85 to 112.78 in just 2 weeks. The Yen has been strengthening against most currencies for some time now. The latest spike only mirrors the market's move away from riskier currencies and into safe-havens.