Why are the U.S. and Japan trying to prop up the yen and what does it mean for Canada?
The United States Treasury and the Bank of Japan worked together to intervene in currency markets last month in a bid to stabilize the yen, which had fallen to a 40-year low against the U.S. dollar .
The action marked the first intervention by the U.S. to support the yen since June 1998, and came as a surprise to central banks around the world, who were not given advance warning.
Why is the yen so important, what could happen if its value falls and what does it mean for Canada? The Financial Post explains.
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