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Warning over effect on Hong Kong as yen hits 34-year low of 156.82 against US dollar after Bank of Japan held interest rates close to zero.
Asia shouldn’t downplay the risks. Jerome Powell seems determined to push the U.S. into recession that would coincide with the slowest Chinese growth in three decades and Japan allowing the yen to test 33-year lows.
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.