While whispers of the current emerging market debt crisis, the result of the rapidly strengthening dollar, could be heard throughout the summer, virtually no one predicted the blow the dollar’s rise would deal to some other developed economies. But with the dollar reaching levels not seen in a generation, a battering is precisely what several are being unexpectedly dealt.
In September, the Bank of Japan intervened to stem a persistent bleed, buying yen for the first time in twenty-five y...
