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Finance

Japan still stuck in negative yields as ECB joins rate hike revival

With two- and five-year rates underwater, yen is on slippery slope

The yen is approaching exchange rates not seen since the Asian financial crisis.   © Reuters

TOKYO -- Japan holds the dubious distinction of being the last major economy with negative yields beyond short-term interest rates, leaving the yen vulnerable to a sell-off that shows no signs of ending.

The yield on two-year Japanese government bonds came to minus 0.07% as of Wednesday. The five-year yield was also negative.

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