The yen may rise to a record 74 per dollar by 2011 because the Bank of Japan hasn't done enough to combat deflation, said Eishi Wakabayashi, a strategist who forecast the currency's surge to an all-time high in April 1995.
Yen may hit 74 against dollar by 2011: forex strategist
http://search.japantimes.co.jp –
Does anyone out there know if this is accurate or not? It seems like a pretty outlandish prediction. It's currently at a high for the past 10-20 years and to see it go another 15% stronger seems unlikely to my untrained eyes. I will wait to send money back to the US if the yen will really continue to strengthen.
Well, there have already been rumblings from the finance ministry about the current rate being unacceptable. But as to what serious intervention steps they might take to remedy it, well, the rumblings amount to not much more than a murmur.
well whether it will or whether it won't - I can only report that it doesnt go quite as far as it used to in East Asia.
regards
Arthur F.
I guess they think the yen should follow the dollar into oblivion.