The former Japanese Deputy Minister of Finance Kyokra Kami said that due to the continuous expansion of monetary policy in Japan and the United States, the Japanese yen may fall to more than 30 years of low points that have been touched last year.He said that as the Bank of Japan adheres to the super loose policy, and the Fed increases interest rates to suppress inflation, the yen may depreciate at the current level of more than 10%.On Friday, the exchange rate of the dollar against the yen (144.00, -0.0200, -0.01%) was about 144.
Kamiyahara said: "The dollar may even exceed 160 yen, perhaps next year. At a level of about 160, the authorities may try to interfere with the yen."
The behavior of short yen is involved in investors. Due to the decline in U.S. debt, investors sell the yen and buy a high dollar with a higher yield.The Japanese yen is the worst -performed currency of the Group this year. The yen plummeted against the US dollar exchange rate 9%, which prompted officials to start oral intervention to slow down the decline of the yen and warn that they will take more tough operations.
Last year, the exchange rate of the yen against the US dollar would fall to 150, which would fall to 150, saying that the Japanese yen may continue to depreciate before the Bank of Japan tightened the policy.The tightening policy may be to cancel negative interest rates at the same time later next year and abandon the control of bond yields.He said that if "the Japanese economy is expected to be too hot, the policy may be tightened in 2024."
After the Bank of Japan in September last year, the US dollar touched 145.90 against the yen, and the Japanese authorities entered the market to support the yen, the first time in the past 25 years.In October, Japan was involved in the market again, and the dollar quickly approached 152 against the yen.Last year, the Japanese authorities spent about $ 65 billion to support the yen.
Kyahara Yingzi said that even if the authorities think of it today, intervention without warning may be the most effective strategy to boost the yen.Shinharahara said with his own intervention in the yen exchange rate: "If I am in this position, I will bring a surprise at this time. I will be quiet for a while and intervene without the market.efficient."
