TOKYO -- Even as the repercussions of Russia's invasion of Ukraine roil the global economy, the yen has actually declined more than other major currencies, in a sign that it may be losing appeal as a safe bet in times of turmoil.
Currencies
No longer a safe haven, once-mighty yen slumps
Current-account deficit and decline of carry trade erode demand from risk-shy traders
The yen has fallen rapidly against the dollar over the past week, reaching 118.50 to the dollar at one point Tuesday. (Photo by Tetsuya Kitayama)
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