The Japanese yen is skyrocketing

Good afternoon!
The Japanese yen is stronger by 0.8% at 106.12 per dollar as of 1:01 p.m. ET.
The yen is "breaking higher and more gains are in store from here with falling global and local bond yields working as the catalyst," wrote Morgan Stanley's Hans W. Redeker in a note to clients.
"The deeper global bond yields fall, the more investors express global growth concerns," he added.
As for the rest of the world, here's the scoreboard:
The British pound is down by 0.2% at 1.