Mitarai: Hoping the Dollar Doesn’t Fall Much Further Vs Yen
Canon President Fujio Mitarai said Tuesday he hopes the dollar doesn’t decline much further but added that his company can cope with the U.S. currency at Y100. Mitarai said there are concerns that the gaping twin deficits in the U.S. current account and trade balance would lead to further dollar weakness.
“I hope (the weakening dollar/yen) doesn’t proceed too far,” Mitarai told reporters at a new year’s gathering of Japanese business leaders.
At 0457 GMT the dollar was trading at Y106.11 after hitting a three-year low of Y106.07 in New York overnight.