The yen has hit a low not seen in about two and a half years, triggering criticism against Tokyo for brewing a currency war. Is the Japanese yen really undervalued? CT asks the experts.
Kit Juckes, global head of FX strategy at Societe Generale CIB (pictured):
Expectations the Shinzo Abe government will live up to its promise of boosting the Japanese economy by reversing yen strength, have resulted in the currency falling by 13% against the US dollar, and by 18% against the euro, in three months. By year-end, we expect dollar/yen to be close to 100.
Wanting a strong currency is hardly fashionable these days, and Abe’s policies will elicit both criticism and in many cases a policy reaction from leaders elsewhere in Asia.
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