Yen primed for rise on Fed stimulus

On the rise: Pedestrians crossing an intersection at night in the Shibuya district of Tokyo. The yen is poised to weaken over the longer run as the coronavirus causes Japan’s trade balance to deteriorate. — Bloomberg

TOKYO: The yen’s advance this week may be a sign of things to come, with strategists in Tokyo saying the currency could climb toward 100 against the dollar in the next few months.

Citigroup Global Markets Japan Inc says the yen stands to gain as the Federal Reserve’s (Fed) massive monetary stimulus weighs on the greenback. MUFG Bank Ltd sees the risk of a worsening coronavirus pandemic forcing Japanese funds to dump overseas assets and snap up the haven currency.