TOKYO -- A year after the Bank of Japan initiated an unprecedented monetary easing program, the once-robust correlation between low stock prices and a firm yen, and vice versa, is breaking down amid shifting investor dynamics.
Friday offered a clear illustration of the weakening link as the yen softened only slightly despite the Nikkei Stock Average's 340-point tumble. The Nikkei average also fell Monday, but the yen met stiff upside resistance.
