Kawasaki, Inpex Executives Call for Stronger Yen as BOJ Meeting Looms

According to CNBC, Japanese business executives are calling for a stronger yen, with Kawasaki Heavy Industries Chairman Yoshinori Kanehana saying currency swings make it difficult to plan strategy and that a yen at 150 could prompt him to consider shifting manufacturing from the U.S. to Japan. Inpex President and CEO Takayuki Ueda said a yen at 100 would be an appropriate level for the Japanese economy, even though the company benefits from converting dollar-based profits into local currency. The yen was trading at 156.3 on Thursday after strengthening over the past two weeks, while investors expect the Bank of Japan to raise rates by 25 basis points to 1.25% at its two-day policy meeting ending Friday.