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An F-35 Lightning II streaks across the sky while doing maneuvers to the Eglin Air Force Base runway.
An F-35 Lightning II.

US Air Force photo/Samuel King Jr.

  • A 10% drop in the yen since December has forced Japan to scale back defense spending, Reuters reported.
  • The currency's decline has boosted the cost of US-made weapons that Japan plans to procure.
  • In response, Japan is prioritizing frontline weapons and spending less on support systems.

Japan is scaling back plans for its largest military build-up since World War II, after weakness in the yen raised the cost of US-made defense equipment, sources told Reuters.

Tags
Markets, mi-exclusive, Japan, Yen, bank-of-japan, yield-curve-control, Currency, foreign-exchange, Devaluation, China, Geopolitics, Military, Defense, Spending, Taiwan
Source
The Japanese yen's plunge forces Tokyo to pull back on biggest defense build-up…