Japan's economic plan 'backfiring' as yen surges

The currency hit a fresh high of 107.6 against the dollar, threatening government hopes of stronger growth and raising prospect of forex intervention Japan's finance minister Taro Aso has ratcheted up the warning against a rapid rise in the yen as the country's ultra-dovish monetary policy implodes and threatens to condemn the economy to continued stagnation. Related: Helicopter money is closer than you think