The figure comes from the most recent Reuters Corporate Survey.
- More than 80% of companies said they wanted the yen to trade no weaker than 130 per dollar next year
- Almost 90% of companies see inflation as the main risk in 2023
- 37% of firms in the survey plan to use profits to raise wages, this is up from 22% last year
The report adds:
- Managers at nearly two-thirds of Japanese companies have lost confidence in the administration of Prime Minister Fumio Kishida
- Uncertainty over Kishida’s economic growth strategy was the most commonly cited reason for dissatisfaction, followed by lack of policy execution and his response to the weak yen and rising prices.
USD/JPY update, at least the yen is up from its lows in October: