The yen rallied from a 20-month low against the dollar on speculation that monetary easing bets had driven the Japanese currency down too rapidly. The yen weakened to the brink of 85 per dollar earlier after Japan’s incoming prime minister said he may change the law governing the central bank unless it boosts its inflation target. Demand for the dollar was supported as investors sought the safety of the world’s reserve currency amid concern that U.S. lawmakers will fail to avoid the so-called fiscal cliff. Japan reopened after a holiday yesterday while most other markets are closed for Christmas. “Dollar-yen rose to ... (full story)