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The yen may extend declines to ¥140 per dollar and that could trigger the government to spend $100 billion (about ¥12.9 trillion) to limit further losses, according to Bank of America analysts.

The currency hasn’t weakened to ¥140 against the dollar since 1998, but it may be pushed to that level by a fresh surge in U.S. Treasury yields, analysts with the bank, including Shusuke Yamada in Tokyo, wrote in a note published Monday.

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