Yen to Strengthen Against US Dollar: Nomura

Nomura expects the yen to strengthen against the dollar later this year. “We think the yen should get back to 140 against the dollar,” Willcox, head of trading and investment banking at Nomura Holdings, said in an interview with Bloomberg TV on Thursday. “We think the yen should get back to 140 against the U.S. dollar. A stronger yen will come mainly from the Fed easing further in the coming period and a little bit of a tightening of Japanese policy,” Willcox said. The yen hit a 34-year low on Wednesday, prompting Japanese authorities to warn they could take measures to stem the decline. The yen has approached 152 against the dollar, a level many market watchers say could trigger intervention. “Central banks tend to intervene when they can surprise the market. We’re all talking about it right now, so I think they’ll rather talk than act, but frankly you never know,” Willcox said.