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Yen fall may prove a debilitating blow to Japan, spotlights BOJ
The yen's recent weakening may not be as rapid as last year when it lost around 20 percent of its value relative to the U.S. dollar, but the prospect of it staying longer at current levels is already a cause for alarm for Japan Inc. and consumers. The yen is in the 143 zone to the U.S. dollar, far from around 130 that major Japanese firms expect the currency pair to average in the current business year to next March. The euro has also hit a 15-year high versus the yen near 157. While Japanese authorities say they are closely monitoring forex developments due to the importance of stable currency moves that reflect ... (full story)