Sakakibara Says Yen May Rise to Record Against Dollar
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Eisuke Sakakibara, formerly Japan’s top currency official, said the yen may rise to a record 79.75 against the U.S. dollar due to concerns over the health of the U.S. economy.
“What we are seeing is not appreciation of the yen but weakness of the dollar, reflecting concerns that the U.S. economy may falter,” Sakakibara said on the Fuji television network. “There is a chance the yen will reach an all-time high and stay at that level for the time being.”