I know all about the lost decades, the recent upheaval in Japanese poli leadership and monetary policy, I am aware of the jostling of liquidity toward safer havens etc. What I don't get is the Yen's sudden rise. Compared to dollar instruments esp. Japan's $10.5 trillion national debt surpasses their GDP, their economy is poised for what looks like permanent stagdeflation until they absorb a significant correction in living standards. IOW the yen is about as unsafe a haven, long term, as I can imagine. So what's the deal?