Yen’s Historic Slump May Reach 170 per Dollar, Suntory CEO Says
- Currency may extend its decline if interest rates stay low
- Japanese firms should look to invest more overseas: Niinami
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The Japanese yen, back near its weakest against the greenback in over three decades, may extend its bruising decline if the central bank sticks to a policy that’s keeping interest rates low, Suntory Holdings Ltd. Chief Executive Officer Takeshi Niinami predicts.
The currency could fall to 170 yen per dollar, a level last seen in 1986, he said in an interview in Tokyo on Thursday, without providing a time frame for the forecast. Higher interest rates may still be a few years away as the Bank of Japan needs to manage any risk to the economy from sudden hikes, he said.