The Yen Is Strong Enough To Continue Its 17 Month Low.

The yen continued to soar, and the dollar / yen fell below 109 mark today, the lowest to 108.77, continuing to refresh its 17 month low.

Ikeda, chief foreign currency strategist at Nomura today, said at the Japanese Foreign Correspondents Club that speculators no longer believed that "black field magic" had been converted into yen in December last year, partly leading to the continued upward trend in the yen.

Index close to 94, a record low since May 2015.

Japanese Prime Minister Abe Shinzo said on Tuesday that it is necessary to avoid arbitrary intervention in the foreign exchange market and avoid competitive currency devaluation.

Japanese cabinet chief Kan Yi Wei made a statement at a news conference in Tokyo today. Andouble's recent comments on exchange rates are consistent with the G20 agreement.

However, Kan Yi Wei has made three consecutive days of attention, vigilant attention to the foreign exchange market, will take appropriate action when necessary.

According to Peng Bo, Merrill Lynch believes that Japan

It is possible that the intervention of the US dollar to the Japanese yen to 105 will be more likely. The 100 is more likely. The intervention depends on the speed and market conditions of the launch, but the Bank of Japan is very hard to prevent the yen from rising.

Nomura Ikeda also said that under the G20 agreement, it is difficult for Japan to intervene in the 105 node, and any intervention needs to be approved by the United States.

In addition, Ikeda expects the US dollar to reach 122 at the end of the year.

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Analysts Tohru Sasaki earlier expected the US dollar to be 110 at the end of the year, and thought it would break 100.

Merrill Lynch Merrill reiterated to investors today that the US dollar against Japanese yen will fall to 100-105 this year.

Reuters quoted Makotoshinohara Hisano, vice president of the IMF, today said that Japanese authorities should not and are unlikely to interfere in the foreign exchange market, because doing so will not only prevent the appreciation of the yen from being effective, but also will not be recognized by other G7 nations.