Power-reverse to the future: falling yen revs up PRDCs again

Depreciation in the yen is sparking new growth in a powerhouse of early 2000s’ investment patterns – the power-reverse dual currency note.

The yen, which hit a 20-year low of 130.4 to the US dollar on April 29, has lost around 10% this year and is currently trading at 127 to the greenback. Betting on the further depreciation of their national currency, Japanese investors are turning in numbers to PRDCs.

And while not hitting the highs of its millennial heyday, PRDC investment in the first