21.   A weak stock market is bad for the currency since global investors selling equities often convert yen proceeds into their home currencies.

22.   A weaker dollar erodes the returns they get on U.S. assets when the proceeds are converted into yen.

23.   A weaker yen can weigh on Japanese government bonds because a falling Japanese currency means less return to investors who convert their proceeds into stronger currencies.

24.   A weak dollar erodes the returns that overseas investors receive on their holdings when the proceeds are converted into their own currencies.

25.   A weaker dollar makes Swedish exports more expensive and worth less kronor when the proceeds are converted.

26.   A weaker dollar reduces the returns on U.S. bonds for foreign investors when the proceeds are converted back into local currencies.

27.   A weaker yen reduces the return to investors who convert their proceeds into stronger currencies.

28.   Concern that foreign investors will abandon U.S. markets and convert the proceeds into their own currencies also hurt the dollar.

29.   Declines in Japanese stocks prompt speculation foreigners will sell yen-denominated assets and convert the proceeds into dollars and other currencies to invest in foreign securities.

30.   Declining stocks can hurt the dollar because foreign investors selling U.S. assets often convert their proceeds into other currencies.