business

Dollar breaks 110 yen for first time in six years

11 Comments

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Woooohooo, guess the fixed income peeps gonna be crying in their noodles.

Watch prices go up, watch industry get back on track, manufacturing will start to return, jobs will be created, and abe will be happy with his "inflation" and I'll be loving it along with anyone else involved in trade from Japan.

-1 ( +5 / -6 )

No industry coming back. Ever. Pipe dream of those who still think its the eighties. This country is moribund.

-3 ( +5 / -8 )

@storm totally agree with you, have been waiting 4-5 years for the yen to return to levels before all the Feds QE that caused the $ to become artificially weak, now all the QE has stopped and rumours US interest rates will rise the $ is back where it should be 110~120yen level. yes all the import lovers will be crying but as ive said before Japan was build on exports not imports. get use to it because you wont see 70-80 yen range for many years if ever again. and people still cry that Japan are manipulators LOL no more no less than the US EU UK etc etc

3 ( +3 / -0 )

I have mixed emotions about this. On one hand, it means I pay less for stuff I export from Japan and Japanese companies but on the other hand I'm not particularly happy about that if it means the company I'm buying stuff from suffers. A suffering company either shuts down, drastically increased prices, or stops offering to export stuff.

-1 ( +0 / -1 )

On one hand, it means I pay less for stuff I export from Japan and Japanese companies but on the other hand I'm not particularly happy about that if it means the company I'm buying stuff from suffers.

If you are paying less, that means the company you are paying receives their money in yen, and therefore the amount they receive will not change. Conversely, if they are an export based business, they are probably getting more business, and not suffering.

This weak yen is great for my company, half our clients are overseas and pay us in non-yen denominations, meaning we are getting more money for the same work, as compared to a few months ago. That said, my overseas business trips cost a lot more, so our gains are offset somewhat by our increased expenses.

2 ( +2 / -0 )

I took macroeconomics in college (no, really!) so am I getting this right if I say that the increased yen will benefit American tourists in Japan because their dollar gets them more yen? ...at least until Japanese stores adjust prices to reflect the new valuation?

1 ( +1 / -0 )

Bluesree, if you hate Japan then what are you doing on this site?

The US's financial situation is still dire and I suspect that Abe and Company are weakening the Yen in response to a future US economic crash (ie. in advance of further strengthening). Let's not forget that we Americans have 12 and 19 years respectively until Medicare and Social Security run out of money.

-1 ( +1 / -2 )

Sorry, I didn't realize you were only allowed to make positive comments on the news. I'll remember in future.

0 ( +2 / -2 )

Bluesree, all I hear from Japan bashers is how Japan needs to be more like the West and how Japan is in decline.

The US has a "D-" in infrastructure while Japan has a "B", Japan is 6th in education while America is 27th, Japan has $1.5 trillion (2nd) in reserves while America has $145 billion (17th), Japan is how a country SHOULD be, in my opinion.

-1 ( +1 / -2 )

jeff198527

Japan has it attractions but it's got it's downsides too.

I feel more comfortable in the value of my US dollars than my Japanese yen these days. The US will be energy independent before long. Medicare and Social Security gonna run out of money a decade or two from now? That surely has time to be addressed. Japan on the other hand is already borrowing twice tax revenues to pay for al lthe pensions and health care that it can no longer afford due to the long stagnating economy and demographic problems.

0 ( +0 / -0 )

"I suspect that Abe and Company are weakening the Yen in response to a future US economic crash"

It's actually a case of the dollar getting stronger, because investors are buying more dollars due to the US economy's brighter outlook. The yen per say isn't the operative factor.

1 ( +1 / -0 )

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