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Yen’s plunge provides new headache for private bank portfolios in Asia

Photo by Max Bender on Unsplash

Drastic moves in Japan’s yen do not tend to end well for the global financial system. Episodes of extreme yen volatility — the late 1990s and 2008, for example — can upend markets everywhere and push more than a few hedge funds to the brink. Not surprisingly, the currency’s plunge to 24-year lows is putting private bank portfolios at even…

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