Merk say ultimate term target for USD/JPY is 'infinity', but not yet
Bloomberg reports on comments from Axel Merk, president and founder of Merk Investments
- "Our increasingly pessimistic outlook on various markets suggests the yen might experience a period of outperformance in the near term"
- "We continue to have 'infinity' as our ultimate price target for dollar-yen, in other words we think the yen will eventually be worthless"
Bloomberg adds that Merk initiated a long position in the yen in the Merk Hard Currency Fund on December 14