Yen May Hit 100 Against U.S. Dollar, Ex-BOJ Official Says
- Little BOJ can do about unwanted yen strength, Momma says
- BOJ also ‘can’t add stimulus’ even if recession hits, he says
Photographer: Tomohiro Ohsumi/Bloomberg
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There is a good chance the yen will strengthen to 100 against the dollar in coming months as slowing global growth and U.S.-China trade tensions keep investors on edge, a former senior Bank of Japan official said.
While that level would be tolerable, there is little the depleted BOJ can do about further yen strength or a serious downturn in the economy, Kazuo Momma, former executive director of the central bank, said in an interview with Bloomberg Tuesday.