Yes, but will they consider it “abnormal” and intervene, that is the real question.
Ã¢â‚¬Å“There arenÃ¢â‚¬â„¢t really any particular reasons for the yen to strengthen,Ã¢â‚¬Â Utsumi, 75, who led JapanÃ¢â‚¬â„¢s currency policy from 1989 to 1991 as vice finance minister for international affairs, said in an interview in Tokyo Sept. 29. Ã¢â‚¬Å“I donÃ¢â‚¬â„¢t expect the currency to extend its recent gains.Ã¢â‚¬Â
The yen rose to an eight-month high this week after Finance Minister Hirohisa Fujii said he opposes currency intervention in principle, spurring speculation the government wonÃ¢â‚¬â„¢t step into the currency market. The currency will probably trade between 90 and 95 and may approach 100 in a few months, Utsumi said.
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