You are here

Analysts: Soaring yen could undo Abenomics gains

Finance minister hints at possible concerted forex market intervention by advanced economies; JPMorgan strategist warns that the currency could surge to 105 to the US dollar

At the start of Tokyo trading on Tuesday, the yen was at a strong 116 to the greenback. It see-sawed through the day, fell to 120 at one point and closed at around 119.


AFTER several days of wild swings in currency and stock values, some markets showed a semblance of calm on Tuesday - but Tokyo stocks again plunged on fears that the already-sharp strengthening of the yen could speed up and derail the gains made by the Japanese economy in the last