The Japanese yen is the top performing currency against a stronger dollar for the second consecutive day as a massive risk sell-off sweeps across the globe. The FOMC rate decision yesterday saw investors scurry into haven assets after the Fed cited, “significant downside risk” to the domestic economy. In an effort to flatten the yield curve and reduce longer-term rates on mortgages, small business loans, and student loans, the central bank implement the highly criticized ‘operation twist’. Bernanke and company pledged to purchase $400 billion in longer-term maturities while selling that same amount of shorter-term ... (full story)