, Columnist
The Iran War Is Reviving a Popular Trade in Japan
Domestic Japanese investors are putting their money in overseas assets.
Photo: Kazuhiro Nogi/AFP/Getty Images
The Iran war is challenging Japan’s safe-haven assets, once again forcing domestic investors to seek better returns abroad.
The yen slid past 160 per dollar at the end of last week, its weakest level since the government intervened in the market in July 2024, and prompting stern warnings from the country’s top currency official. (The currency stepped back from the psychologically important level during Asia hours Monday.) Meanwhile, since the US and Israel first struck Iran on Feb. 28, the benchmark Nikkei 225 Index has lost 14% in dollar terms, in line with MSCI Emerging Markets’ decline.