Yen guru Gyohten says it's Abe's turn to stimulate economy

Tokyo

TOYOO Gyohten, a former currency-policy chief at Japan's Ministry of Finance, says 2016 will be the year for Prime Minister Shinzo Abe to take up the mantle of stimulus from the Bank of Japan, which has done all it can to revive the economy.

While the yen will hold losses from a four-year decline, it is unlikely to weaken beyond 130 per dollar as the Federal Reserve raises interest rates only gradually and the BOJ keeps policy on hold, said Mr Gyohten, who was involved in negotiations leading up to the 1985 Plaza Accord to weaken the US currency.