Yen Falls To 32-Year Low Against The Dollar
It’s one of the many effects of the rise in interest rates in the United States:
The Japanese yen has fallen to a 32-year low versus the dollar. The government in Tokyo will not allow its 10-year yield to rise above 0.25% — it’s a government finance policy mandate — so global investors avoid it in favor of the U.S. 10-year rate at 4%.