Opinion: Sakakibara on JPY
Former Ministry of Finance official Eisuke Sakakibara, known as “Mr. Yen” for his efforts to influence exchange rates in the late 1990s, said that Japanese yen will weaken as the Fed’s tightening its bond-buying program.
“It is more likely that the dollar will rise toward 110 yen than for it to break below 100,” said Sakakibara.
According to the median estimate of more than 50 analysts in a Bloomberg poll, USD/JPY will rise to 109 by the year-end.