Japan Should Target 120 Range for Yen, Business Leader Says
- Commerce Chamber Chief Kobayashi says SMEs in tough spot
- Suggests Japan should have acted sooner to stop yen slide
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Japan’s government and central bank should start targeting an exchange rate of 120-130 per dollar as the yen is currently far too weak for struggling small businesses, according to a national business group leader.
“Small and medium-sized companies are already in a very tough spot with the yen sticking around 150 to the dollar,” Ken Kobayashi, chairman of the Japan Chamber of Commerce and Industry, said in an interview Thursday.