The Yen Is Falling!

Could Japan's currency hit 200 to the dollar? Maybe not quite, but it's freefall is deeply destabilizing.

Too bad it's not worth much.

Photographer: Yoshikazu Tsuno/AFP/Getty Images

Nearly two decades after America rolled out its strong-dollar mantra, Japan seems to have adopted the opposite chant. Finance Minister Taro Aso reminded reporters yesterday about the yen's vital role in boosting job and wage growth: In the opaque world of currency predictions, that counts as a pretty clear sign that he expects the currency to drop even further than its current rate of 120 to the dollar, down 16 percent since mid-year.

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