A grim reality is setting in for Japanese authorities as the yen plunges through milestone levels in rapid succession: The slide won’t stop until the Federal Reserve relents on its higher-for-longer policy path. And they have no control over that. It’s a realization shared by global investors as they parse the way still-high US borrowing costs buoy the dollar — and the impact that has on the rest of the world. In the $7.5-trillion-a-day market for global currencies, the yen’s relentless rout offers an extreme manifestation of US financial dominance. “It’s all about the Fed. Higher for longer is keeping the front end ... (full story)