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The Fallacy of Floating Exchange Rates

Your hypothesis violates basic economic theory. If speculators cause prices to rise, then they must cause prices to fall. Therefore, it must have been speculators causing the yen to become weaker before, an now they are causing it to become stronger. Who are these speculators, and how do they magically, on aggregate, win all of the time? If this was such a one way bet, all speculators would pile in causing a reverse of the phenomenon.