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For non-personal use or to order multiple copies, please contact Dow Jones Reprints at or visit www. All Rights Reserved This copy is for your personal, non-commercial use only. That could increase the odds the Bank of Korea slashes rates, too. The yen has been on an upward tear of its own. Investment growth has slowed sharply, which has hurt the industrial sector and corporate profits. As Tokyo markets malfunction, thanks partly to BOJ policies, companies may grow even more timid about boosting wages or retaining staff.

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The latest Tankan business confidence survey displayed very little of it.

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Asian Currencies Have Gone Wild

Yen bulls could be in for a rough as the BOJ moves even further into uncharted monetary territory. The Bank of Japan, for example, is almost certain to open the monetary spigot wider than ever as growth disappoints, perhaps later this month. This in turn has led to a slower pace of job creation and wage growth, which in turn feeds into a slowdown in household consumption.

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