No limit to how low the yen will go

TOKYO – Who needs Las Vegas or Macau when betting on how low the yen can go is the best game anywhere?

It’s not where the Bank of Japan wanted to find itself this week as it mulled interest rate policy. That Governor Kazuo Ueda’s team did nothing on Friday (April 26) was hardly surprising.

What was unexpected, though, is Tokyo’s lack of urgency to halt yen declines that risk upending economic dynamics from Beijing to Washington.

In neighboring China, the yen’s 10.6% drop so far this year has Xi Jinping’s team mulling its own options.