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But neither Japan nor America should meddle with exchange rates
Catch up on global daily news
Compelling long reads
Future-gazing analysis, predictions and speculation
Tune into captivating conversations
Watch engaging short films

Newly alluring yields on Japanese bonds have not propped up the currency

In a time of higher inflation, a falling yen and rising bond yields make a noxious blend

It isn’t just Japan: other currencies also look cheap

It is hard to be a safe haven when trouble starts at home

As investors worry about budgetary laxity, the central bank prepares for more rate hikes

Not nearly as much as it could be