Start trading now on Poste Italiane

Yen anticipates intervention if it crosses 150 against the dollar, says ‘Mr Yen’

|

Eisuke Sakakibara, also known as ‘Mr Yen’, has projected that Japan may intervene if the yen crosses the 150 mark against the dollar, with concerns escalating at a level of 155. Sakakibara, who is currently leading the Institute for Indian Economic Studies, expressed these views on Thursday.

Sakakibara went on to suggest that Japan might be able to withstand a weaker yen while keeping an eye on policy changes by the US Federal Reserve. He predicts a shift in the strength of the yen following adjustments to US policy.

Drawing from past trends, Sakakibara referenced interventions from last year when $60 billion were spent around the 146 and 152 marks. He anticipates similar expenditures in the future should the yen’s value continue to rise.

Looking ahead, Sakakibara pointed out potential changes that could come into play post the December meeting of the Federal Reserve. Additionally, he highlighted possible hikes in Japanese interest rates next year. These factors are expected to have a significant impact on the currency’s value and could trigger interventions similar to those seen in the past.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Previous Post
Flooded homes, streets as another storm hits battered central Greece
Next Post
Asia FX muted as Fed fears persist, yen rises amid intervention watch

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.
You need to agree with the terms to proceed

Invest on crypto with Gianluca Vacchi project and start making money now
Win money trading on Amazon
INVEST NOW
keyboard_arrow_up