In 1980 it was 306 Yen to the Dollar. In 2000 it was just 99. If you held Yen for these 20 years you made a factor of 3 relative to the dollar just on the change in currency value. This meant that you could earn low interest on Yen and still be willing to hold Yen. However, if now the value of the Yen starts dropping fast people will not be so willing to hold Yen at low interest rates.
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