On an Appreciating Yen

January 20th, 2009 8:01 am | by John Jansen |

Some comments from a former MOF official if the rise in the yen continues forwarded to me by a friend of the blog and paid up subscriber.

    “When the dollar-yen breaks 85, the Bank of Japan would be
in the market to intervene” to sell the yen, Eisuke Sakakibara,
a former top currency official at Japan’s Ministry of Finance,
said in a Bloomberg Television interview. “This is just an
indication of the fact that Japanese authorities are afraid of
an abrupt appreciation of the currency at the time when the
Japanese economy is in recession.”

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  1. One Response to “On an Appreciating Yen”

  2. By yagij on Jan 20, 2009 | Reply

    “This is just an indication of the fact that Japanese authorities are afraid of an abrupt appreciation of the currency at the time when the
    Japanese economy is in recession.”

    Who isn’t in a recession at the moment? Even if you keep the Yen pegged above the 85 mark, Americans will still not be able to buy PSPs.

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