Yen will strengthen as it did after Kobe, say currency strategists

Strategists at Japanese bank Nomura have said they expect the yen will continue to strengthen in spite of the tragedy, as assets in Japan and overseas are converted to funds for repairs and insurance, while risk appetite declines. The bank does expect production and consumption to decline in the near term, but believes restoration demand will have a positive effect on the currency.

"The overall effect on the yen will be positive, and this is partly due to the role played by the Japanese