From Breakingviews -- Japan’s imperial retirement bash will test the country’s reluctant spenders, says petesweeneypro
FILE PHOTO : Japan's Emperor Akihito waves to well-wishers gathered to celebrate his 81st birthday at the Imperial Palace in Tokyo December 23, 2014. REUTERS/Thomas Peter/File Photo
The Land of the Rising Sun has not seen a resignation of such magnitude for over a century. Since then it’s become a near-$5 trillion powerhouse, home to a safe-haven currency. With markets closed for over a week, some worry that if a panic elsewhere prompts a rush into yen, it could trigger wider ructions. Such a spike did happen at the tail end of Japan’s new year vacation in January.
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