Yen bears could be in for disappointment this year if former Japanese currency official Eisuke Sakakibara’s latest comments are anything to go by.
Sakakibara, nicknamed “Mr Yen” in the late 1990s for his efforts to influence the currency’s exchange rate, expects the yen to hover in a 100-105 range for the remainder of 2014.
“We are not unhappy with the current rate. It is possible that if the U.S. tightens monetary policy quite strongly then it would head 110 towards the end of the year or early next year, but I would say for next 3-6 months it would be in the range of 100-105,” he told CNBC on Tuesday.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.