Dollar Spikes To Highest Level Against Yen Since 2008

The Scottish vote for independence is sending shockwaves through the currency markets. And not just the British pound, because the Japanese yen just fell out of bed.

The yen has fallen to 109 against the US dollar, its lowest level since September 2008.

A report from Zero Hedge said that in addition to the turmoil being caused across currencies due to the Scottish vote, Japan's govrnment just downgraded its economic assessment for the first time in five months.

As results from the Scottish vote for independence have rolled in, it has looked increasingly grim for "Yes," and the British pound has been rallying against all major currency pairs, including the dollar, yen, and euro.

But now the dollar has added its own stunning rally against the yen.

Here's a chart of the dollar against the yen.

And as the pound rallies against all currencies, here's the chart of the pound's huge gains against the yen.