The Yen Is Falling!
From bloombergview.com
Nearly two decades after America rolled out its strong-dollar mantra, Japan seems to have adopted the opposite chant. Finance Minister Taro Aso reminded reporters yesterday about the yen's vital role in boosting job and wage growth: In the opaque world of currency predictions, that counts as a pretty clear sign that he expects the currency to drop even further than its current rate of 120 to the dollar, down 16 percent since mid-year. How low might the yen go? Opposition lawmaker Takeshi Fujimaki, a former banker, may be off-base when he warns the currency could eventually hit 200 per dollar. But with growth ...
(full story)