NEW YORK ( TheStreet) -- The Bank of Korea, South Korea's central bank, cut its key interest rate last week in order to keep pace with a weaker yen. Although the Bank of Japan is adamant that they do not intend on inciting a currency war, other countries look to be suffering from Japan's policy.The yen has depreciated against the won by about 10% since the beginning of the year, which is hurting South Korea's export market. The Bank of Korea even cited a weaker yen as a potential threat to the country's economic viability.
Global Macro: A Closeup on the Asian Pacific
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