Yen’s loss could be yuan’s gain

TOKYO – A funny thing happened in Asia this week: the region’s most important currency fell to four-year lows and Joe Biden’s White House didn’t say a thing.

Not the yuan, but the yen. China’s currency may have maddened former US President Donald Trump. Yet its use in global finance and trade, for now, pales in comparison to Japan’s.

And yet, the yen’s accelerating decline against the US dollar is meeting relative silence in Washington.

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