Dollar gets boost as a safer bet; drops vs yen

Currency speculators must be having kittens.

The Bernank is possibly going to hint at QE3 at Jackson Hole on Aug 26, if so there's a high probability that this would see the US dollar drop further against the yen (break 70 maybe). Even if he doesn't hint at QE3 there's still no reason to buy dollars (as of today anyway - things can change quickly).

Infuse another lot of Yen 4 tril and bring back yen to 78 level...!

rainman1: Pension funds? No such thing in Japan.

some14some.

Anything the government does now will have little effect. The markets clearly see the yen as a haven and the other currencies as risky. Japan should find ways to benefit from the power of the yen and adjust to what is likely to remain an ongoing condition.

gogogo. I am sure rainman1 is not referring solely to Japan. The world is filled with funds that have ties to currency.

Will be spent right away. I've been trying to get out from under student loans and revolving credit card debt for about 8 years now.

Davidattokyo, I agree. I believe there will be a QE3. The Federal Reserve just has to save the insolvent banks of the world...and destroy the lives of every American and European in the process.

Seas of dollars = a weak dollar!

@Serrano: Oh please - Most of these investors do actually have a job to. From other posts, its pretty clear that you don't have mych of an idea of how the real world works. Yes, there are those who will make AND lose money from pure speculation. However, pension funds etc all need to be managed. Tough times, if you think it won't affect you, think again.

@tkoind2: Thank you - I am not referring solely to Japan.

If you have plenty of JPY enjoy!!

Time to send some money home...

Japan, sadly is finished, the inability to control the yens rise is killing the last vestiges of Japanese industry, and ther is nothing to replace it.

QE or a law to cancle all debt heal by the BOJ would send the Yen much lower. But alas no.

I assume most of the Gaijin will also lose there jobs, perhaps a few will get jobs in foriegn firms who will sell more to Japan, but that will be temporary as unemployment goes through the roof.

You will likely have little choice but to join me in China.

I am so glad I exchanged a couple of thouand dollars to yen just before the damn Plaza Accord in 1985 when Ronald Reagan was U.S. president and a dollar was worth around 240 yen.

@Serrano: zzzzzzzzzzzzz

rainman1Aug. 12, 2011 - 03:05PM JST

@Serrano: zzzzzzzzzzzzz

You know something we do not know. What are they besides what Serrano have just said?

@jasperandy: I agree with what you say, but unfortunately I don't think China is too far away from a complete meltdown itself. Going to be like watching a pot boil itself dry. Then, we really are in trouble

Complete meltdown? I disagree. They are doing a lot better than the rest of world.

Only time to send money home if you are paying off a loan or a mortgage. Interest rates are now 'stuck' to at least 2013-2014 and inflation will eat away at the rest of it. You're losing 3.5-4% of your money just by it sitting there.

Sending home, where? If you are in Japan, it is not so.

The dollar will continue to decline further.

SerranoAug. 11, 2011 - 07:20AM JST

"as investors sought safety"

These "investors" really piss me off.

They have been saving for years for retirement while others were NOT. Many of them already lost big in 2008, and they do not want to lose again this time. Their retirements depend on their life time savings. We all have to be smarter in this financial climate. It should not piss you off, they have EARNED it.

"as investors sought safety"

These "investors" really piss me off.

Only time to send money home if you are paying off a loan or a mortgage. Interest rates are now 'stuck' to at least 2013-2014 and inflation will eat away at the rest of it. You're losing 3.5-4% of your money just by it sitting there.

Wot? It's at all time low 76.6 yen/dollar right right...

@jasperandy: I agree with what you say, but unfortunately I don't think China is too far away from a complete meltdown itself. Going to be like watching a pot boil itself dry. Then, we really are in trouble.