Morgan Stanley¡¯s Japan chief said he is hoping that the yen strengthens to around 140 against the dollar, and that Bank of Japan action is key for that to happen.
If the central bank fails to raise interest rates in June, that would have an impact on the bond and currency markets, Alberto Tamura said in a Bloomberg Television interview. The yen could either weaken to 170 versus the dollar or gain to 140, depending on how events unfold, he said, without giving a timeline.
¡°Some investors believe that the Bank of Japan is behind the curve, so hopefully taking action will be step number one,¡± said Tamura. ¡°If things stabilize around the world, maybe that could also be the path to a stronger yen.¡±
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.