Currency Strategists See Risk of Yen Sliding Back as Far as 160
- BofA, Mizuho see the yen slipping to 160 against the dollar
- Finance minister warns that he’ll “closely monitor” the market
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The yen’s rapid decline this month has some currency strategists suggesting a fall to as low as 155 or 160 versus the dollar in the coming weeks as elections in Japan and the US cast a shadow of uncertainty over markets.
That would bring it back to levels that could trigger official intervention by Japanese authorities, with the country’s finance minister Katsunobu Kato warning that he’ll “closely monitor the foreign exchange market with a stronger sense of urgency, including watching for speculative trading.”