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Abe Adviser Sees Yen at 110 Per Dollar as Posing Problem

Koichi Hamada, the former Yale professor advising Japanese Prime Minister Shinzo Abe on choosing a new central bank chief, signalled that a yen at 110 per dollar would pose a problem for the economy.

“I think 100 yen is a good level for Japan, 110 is too weak but 95 or 100 is no problem,” Hamada said after a speech in Tokyo today, referring to the level of the yen against the dollar. “We need to bring the yen back to a level that works well for Japan’s economy.”