Some argue that the benefits of a weaker yen will shift to a drawback if the yen depreciates to 120-130 per dollar.

“I don’t think many people in Japan want a yen decline to around 120 or 130 to the dollar,” BOJ economist Nobuyasu Atago said in the Reuters article. “Many companies have already moved production overseas and may also become hesitant to boost exports for political considerations.”

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