Japanese yen's historic slide reflects deeper policy issues, says analyst

The Japanese yen has fallen to a 40-year low against the United States dollar, prompting Tokyo to say it is ready take action if needed. Speaking to CNA's Asia First, Jesper Koll, expert director at financial services company Monex Group, says any intervention is likely to have only a limited impact unless Japan changes the underlying policies driving the yen's weakness. He argues that the Bank of Japan is raising interest rates too slowly to push real interest rates into positive territory, while the government's expansionary fiscal policies continue to weigh on the currency.

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