TOKYO -- The Bank of Japan's first rate hike in 17 years may be a turning point in the country's decades-long history of deflation, but so far it has been regarded as a baby step by those engaged in the cross border investments known as carry trades -- and that has weakened the yen.
Even following the BOJ's rate hike, Japan's bond yields largely remain lower than other advanced economies, failing to temper the speculative strategies. (Nikkei montage/Source photos by Nanami Sato and Jo Miyaguchi)
Market Spotlight
BOJ's rate hike leaves wide yield gap with U.S., Europe, causes yen to slide
Lowest-yielding G10 currency's use for carry trades helps push it to 34-year low
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