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Japan’s Mr Yen says dollar could fall below 100 yen by end-2017

Japan’s former currency czar Eisuke Sakakibara said the dollar could fall below 100 yen by year-end on U.S. President Donald Trump’s perceived support for a weak dollar, but cautioned that any yen-selling intervention by Tokyo might be counterproductive.

Sakakibara, who was known as “Mr Yen” in the 1990s when he actively led currency intervention to stem a strong yen, said Tokyo should avoid intervention even if yen rises are rapid as doing so would not be supported by the United States.

Sakakibara, now a professor at Aoyama Gakuin University, told Reuters in an interview on Monday that gradual yen gains will be beneficial for Japanese firms with production bases overseas.

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