By propping up the yen, the US and Japan are admitting dollar dominance isn't what it used to be - Fortune
By propping up the yen, the US and Japan are admitting dollar dominance isn't what it used to be - Fortune
Source: Fortune
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DW NOTE
The yen fell 30% against the dollar between 2021 and 2024 while the BOJ insisted its policy was appropriate. Now that same BOJ, with Washington's explicit backing, declares 145 yen-per-dollar intolerable. The shift isn't a defense of market stability — it's an admission that neither central bank can afford the political consequences of what their own policies produced.