Katsu Curry Index: New Metric for Measuring Yen Weakness

A senior strategist at Bank of New York Mellon is using an unusual metric to gauge the weakness of the yen. The 'Katsu Curry Index' measures the price of a Japanese fast-food staple, katsu curry, relative to other currencies.

The index was introduced by the strategist in response to the recent intervention by the Bank of Japan, which has led to some market volatility. The goal is to provide a more accurate snapshot of the yen's weakness as its impact fades.

Coco Ichibanya's katsu curry is being used as the benchmark for this index. The price of the dish in yen is compared to its equivalent value in other currencies, such as the US dollar and the euro.