Mr. Yen Says Japan's Currency May Rise Beyond 100 by Year-End
- Yen will probably reach 105 in next few months: Sakakibara
- Intervention will need agreement of counter parties, he says
Former Vice Minister of Finance of Japan Eisuke Sakakibara.
Photographer: Prakash Singh/AFP via Getty ImagesThis article is for subscribers only.
After correctly predicting the yen’s advance beyond 115 and then 110 per dollar, Eisuke Sakakibara now says Japan’s currency may strengthen to 100 by year-end.
The former Finance Ministry official in charge of currency intervention in Japan, who was dubbed Mr. Yen for his ability to influence the exchange rate in the 1990s, said it may advance to 105 in the next few months. The yen has surprised analysts this year, surging from around 120 per dollar to reach 107.63 Monday, the strongest since before the central bank expanded its quantitative easing program in October 2014.