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

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