Mr Yen Sees JPY in 100 to 105 Range

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.

via CBNC

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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