Japan business federation chief says USD/JPY above 150 is excessive

So far, all we’re getting is verbal interventions from Japanese officials with regards to the yen. That has helped somewhat to curb any further drop in the currency but it is not turning things around. For Japanese businesses, importers in particular are suffering as raising wages also eats more into their profit margin. But they had to do so for the sake of the government and the BOJ.

And so now, they are perhaps looking to Tokyo for some assistance against any further yen depreciation. Then again, many of Japan’s largest firms are exporters and can stand to benefit from a weaker yen currency. The chief among them being Toyota of course.

This article was written by Justin Low at www.forexlive.com.