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Forex Flash: The Yen is on fire – Nomura

Nomura Strategists Jens Nordvig and Charles St-Arnaud not that 2013 has seen some historic move so far, and each of them seems to be quite independent of the other, although the shift in global yield curves is playing a role.
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Forex Flash: Emerging markets central banks reluctant to alter rates – UBS

Many asset managers will tell you that last year investing in emerging markets reaped healthy rewards, both in FX and duration. By definition, on the FX element alone, the means emerging market central banks were more reluctant to intervene. Firstly, according to Research Analyst Gareth Berry at UBS, “early risk aversion and fears of declining trend growth led to capital outflows in many markets, notably China, such that pressure limited reserve accumulation.”
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