How to Prevent Another Global Bubble

I anxiously checked the Bloomberg terminal. One screen showed minute-by-minute action that day in the S&P 500, the main index of the U.S. stock market. Then I called up a minute-by-minute chart of the exchange rate of the Japanese yen against the U.S. dollar. At first I thought I had mistyped. The chart was identical to the S&P.
If it were not so sinister, it might have been funny. As the day wore on and turned into the next, we in the newsroom watched the two charts snaking identical courses across the screen. Every time the S&P rose, the dollar rose against the yen and vice versa. What on earth was going on?
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