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Yen May Drop to 100, Former Japan Currency Official Utsumi Says

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Yes, but will they consider it “abnormal” and intervene, that is the real question.

“There aren’t really any particular reasons for the yen to strengthen,” Utsumi, 75, who led Japan’s currency policy from 1989 to 1991 as vice finance minister for international affairs, said in an interview in Tokyo Sept. 29. “I don’t expect the currency to extend its recent gains.”

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 won’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.

Bloomberg

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

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