April 4, 2011 / 3:57 AM / 8 years ago

Japan ex-MOF Sakakibara: yen to continue weakening

TOKYO, April 4 (Reuters) - The yen will continue to weaken for the next few months, possibly falling beyond 90 yen to the dollar, former Japanese currency policy chief Eisuke Sakakibara said on Monday.

“I would not be surprised if the dollar/yen exceeds 90,” said Sakakibara, who was known as Mr Yen in the 1990s as he spearheaded Japan’s intervention to stem the yen’s rise when he served as vice minister for international affairs at the finance ministry.

Sakakibara also told reporters at the Foreign Correspondents’ Club of Japan that foreign money leaving the country in the wake of a massive earthquake and subsequent nuclear crisis was a cause for concern.

Reporting by Tetsushi Kajimoto; Editing by Joseph Radford

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