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Mr. Yen Sees Rally Toward 100 in 2017 as ‘Trump Fever’ Ends

  • Sakakibara calls Trump’s 4% annual growth target ‘impossible’
  • Trump’s warning over dollar strength signals shift: Sakakibara
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The yen may strengthen beyond 100 per dollar this year as expectations for Trumponomics shatter when the U.S. president fails to attain the economic growth he’s promised, according to Eisuke Sakakibara, a former top currency official at Japan’s Finance Ministry.

The dollar is close to its peak and has already started to target 110 yen since Donald Trump’s inauguration, said the man dubbed as “Mr. Yen” for his ability to influence the exchange rate in the 1990s. The trend for a weaker U.S. currency and stronger yen will intensify as the president’s pledge of 4 percent annual growth proves unrealistic, he added.