GUNDLACH: The Yen Will Lose Half Its Value In 3 To 5 Years
Gundlach said that over the long term, the yen's value will continue to erode as Japan continues to get slammed by long-term economic headwinds like an aging demographic and a need to import much of its energy.
When asked for a timeframe, Gundlach said less than ten years, and maybe more like 3 to 5 years.
On Monday, the yen fell in value against the dollar to more than 106, a move that Gundlach said, "almost looked manipulated."
Here's a chart of the yen over the last year, showing the breakout the currency has seen in the last month as the dollar continues to gain against most major currencies.