How does today's tsunamis in Japan compare to 2011? Much lesser risk of Yen strength on repatriation flows
Today's relatively shallow quake in Japan - M7.4, depth 25 km - off the coast from Namie, a town near the Fukushima nuclear plant, while raising some intial concerns following a temporary halt of the no. 3 reactor at Fukushima Daiichi plan, it has since been publicly known that there is no danger of radiation leak, with TEPCO preparing resumption of the failed cooling system within 1h.
Back in March 11th 2011, when a gigantic M9 earthquake struck Japan, as Ana Fifiield from the Washington Post, reports, "it caused huge damage at the Fukushima nuclear plant and the evacuation of the area around it for fear of radiation", adding that "it was the tsunami that followed that had the most devastating results, a 50-foot-high wave inundated the Tohoku region, north of Fukushima, claiming 18,000 lives."
Today's highest waves, according to the site Breaking News and NHK, have been reported around 1.4 meters or 4.5 feet. The releatively low waves, within the context of a terrible catastrophe, should appease fears of Yen strength driven by potential repatriation flows. At the moment, USD/JPY trades stable just above the 110.50 vicinity, with the initial price action in Tokyo (small range n the first 20 minutes) reinforcing the notion of a low impact effect in the Yen following today's Japanese quake news.