Kit Juckes, global head of FX strategy at Societe Generale CIB:
Japanese Prime Minister Shinzo Abe has a mandate to boost growth and fight deflation. A weaker yen is a key part of that strategy. Japan has been locked in deflation for a long time. The economy has stagnated and the current account surplus has almost vanished. The closure of nuclear power facilities increases imports and Japan has also lost market share in key sectors to regional competitors, notably China and South Korea.