Yen May Reach 75 Per Dollar on Rating Risk, Sakakibara Says
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The yen may strengthen to 75 versus the dollar as the U.S. faces the risk of a credit rating downgrade amid an economic slowdown, said Eisuke Sakakibara, formerly Japan’s top currency official.
“The U.S. economy is in a worse-than-expected state,” Sakakibara said in an interview in Tokyo yesterday. “The yen may trade in a range of 75 to 80 against the dollar in the not so distant future.”