Japanese Yen Falls to 40-Year Low, Pleasing Tourists but Worrying Tokyo

The currency’s weakness is a problem in a country still not used to inflation TOKYO—If New Yorker John Caramichael is going to splurge a little, he would rather do it in Japan. With the Japanese yen on Tuesday touching a 40-year low against the dollar, the 120,000 yen he spent on a new Seiko watch …