Yen at 100 Per Dollar Endorsed by Japan Official Nishimura
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Japan’s deputy economy minister said that a yen at 100 to the dollar wouldn’t be a problem, indicating global criticism may fail to convince Prime Minister Shinzo Abe to temper his push to weaken the currency.
“The current level around 90 can be said to be a correction of the strong yen, but it isn’t over yet,” Yasutoshi Nishimura said in an interview today in Tokyo. He said a level of 110 to 120 would raise import costs, echoing the view of Abe’s adviser Koichi Hamada and suggesting that the government won’t back a currency free-fall.