Yen Unlikely to Weaken Further, May Regain Strength in 2024: Yamasaki

Former top Japanese currency official suggests Bank of Japan could abandon negative interest rate policy as early as April.

Former top Japanese currency official Tatsuo Yamasaki predicts the yen will not weaken significantly from its current rate of 150 to the dollar and is likely to regain strength next year.
Yamasaki suggests the Bank of Japan could abandon its negative interest rate policy as early as April, following the results of annual labor talks and other indicators.
Yamasaki notes that the impact of the weak yen on import prices and inflation has eased this year, and the interest rate gap with the U.S., which contributed to the yen's fall, has begun to narrow.
Despite the U.S. dollar regaining strength close to its peak of 152 yen, Japan has refrained from intervening in the foreign exchange market this year.
Yamasaki does not rule out intervention by authorities, stating that from an economic fundamentals perspective, 150 yen is too weak.