Yes, but will they consider it “abnormal” and intervene, that is the real question.
“There aren’t really any particular reasons for the yen to strengthen,” Utsumi, 75, who led Japan’s currency policy from 1989 to 1991 as vice finance minister for international affairs, said in an interview in Tokyo Sept. 29. “I don’t expect the currency to extend its recent gains.”
The yen rose to an eight-month high this week after Finance Minister Hirohisa Fujii said he opposes currency intervention in principle, spurring speculation the government won’t step into the currency market. The currency will probably trade between 90 and 95 and may approach 100 in a few months, Utsumi said.
