In September 1989 the exchange rate hovered around 140 yen to the dollar.

在1989年9月，汇率一直在140日元比1美元左右徘徊。

《柯林斯英汉双解大词典》

The main money in the then Carry Trade is the yen, because its interest rate was. Money used also includes the Australian Dollar and the New Zealand Dollar.

当时进行套利交易的货币主要是日元，因为当时日元的利率很低，有很多套利交易的标的是澳大利亚元和新西兰元。

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Then the currency engaged in carry trade most was Yen for its interest rate was very low. And many carry trade's targets were Australia dollar and New Zealand dollar.

当时进行套利交易的货币主要是日元，因为当时日元的利率很低，有很多套利交易的标的是澳大利亚元和新西兰元。

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This might suggest that the yen-dollar rate has already overshot.

ECONOMIST: A weaker yen is good news, not bad, for Japan��s economy

Lately, many have been fixated on the recent weakness in the yen, as the dollar-yen rate has recently risen from around 75.5 yen to the dollar to 93.5.

FORBES: The Week Ahead: Currency Wars and Commodities

However, the Americans, at the other end of the yen-dollar exchange rate, do not necessarily see things this way.

ECONOMIST: The unstoppable, surging yen