Disliked{quote} Japanese insurers and companies exchanged their foreign currency for yen to pay for the damage and more demand means price goes up . The second reason may be what is called carry trade. Japan had such low interest rates that it made sense to borrow money in Japan, and invest it elsewhere which entails selling the yen and buying the foreign currency where the investment is. Investors may have decided to bail out of that investment strategy, causing the money to be converted back into yen.Ignored
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