Japan will probably not gain support from the European Union in raising concerns over the dollar's recent decline during an upcoming meeting of Group of Seven finance chiefs, the man known as "Mr. Yen" said Tuesday.
And if these concerns are not raised in a G7 joint statement, the dollar will probably keep losing ground toward 100 yen, Eisuke Sakakibara, a former vice minister of finance for international affairs, said in an interview with The Japan Times.
Sakakibara added that unless the greenback shows signs of rebounding against the yen, Japan may be forced to tolerate a future decline in the U.S. currency, as it will not be able to maintain its strategy of intervention, in which it has sold trillions of yen for dollars, forever.