Both interventions and rate hikes have failed, what options does Japan have left to save the yen?
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Middle Eastern conflict leads to trouble for Japan. Japanese bond yields have risen to their highest level in 27 years, and the yen has plummeted to 160. The government and central bank have taken turns intervening with little effect. When the bond market and currency exchange rate cannot both be sustained, which will Japan sacrifice? Which assets might also be impacted?
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