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© KYODODollar tops 150 yen as BOJ ends negative rates
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isabelle
It's only "popular" with corrupt, illiberal nations. It's not even "popular" among all its members - India, for a start.
Some countries want to de-dollarize, but other than corrupt ones, no-one wants to replace the USD with the RMB. That would be total insanity.
JeffLee
Let's see what happens when the Fed starts cutting.
ozellis
Oops...."Given all the headwinds" should read "Given all the tailwinds".
Tell_me_bout_it
The most useless establishment ever, really. They had one job. Whatever Kuroda and Ueda do at this point only serves to futher damage lives of people in Japan. Only the rich is getting richer.
wtfjapan
I'd guess this is a fake-out move up that will clear out stops and reverse quickly.
unfortunately that can spook investors , panic investors, panic, dump stocks, markets react , normally negatively
ozellis
Given all the headwinds (normalization of rates, fairly stable yen, rising visitor numbers, Japan seen more and more as a "must see" tourist destination), the Nikkei may approach 50,000 by year end.
Just need a tad more immigration to service all those peeps.
James
You should have been sending yen to the US and saving it for moments just like these.. I have already doubled my money.. still wonder to change more or wait to see if it hits 160... decisions decisions.
Fighto!
US $1 soon to be ¥160.
Massive shot in the arm for inbound tourism and connected industries - as well as Japanese exporters.
TaiwanIsNotChina
Yes, someday your reds will be ascendant. It's good to have hopes and dreams.
TaiwanIsNotChina
Someday you'll get your second de-dollarizer!!! Except the UAE pegs its currency to the dollar. Someday you'll get your first de-dollarizer!!!
kurisupisu
And another one today!
Any young foreigner in Japan will be at the stage where they won’t be able to save anything at all.
Anyone under 30 years should head to a country like the US or Australia on a working holiday visa where earnings are double those in Japan.
Your savings would cover a nice fortnight’s vacation in Japan
fallaffel
I'd guess this is a fake-out move up that will clear out stops and reverse quickly.
JRO
Not that bad if you get paid in USD, nenkin money is a bit of a waste though.
fxgai
That’s what some (I wonder if they remember who they are) were saying at the start of the year… when the dollar/yen was circa 140.
factchecker
Japan is now a banana republic
kurisupisu
o, the anaemic yen decline means paying more for everything.All those in yen denominated wages just got another haircut!
CaptDingleheimer
Perfect.
I'm throwing the whole family into an airplane in 2 weeks to go visit Granny Japanny, Disneyland, and the rest of it. This exchange rate will help offset the ridiculous airfares I had to bend over and hold my ankles for (no lube).
YankeeX
Will we retest 152 and beyond?
Redemption
Cut the cheese?
HopeSpringsEternal
US Japan interest differential growing, as US inflation re-surging, especially super core services, housing shortage, global shipping chaos, energy and commodities rising, growth in US deficit spending, approx. $1 Trillion every 100 days (CNBC).
Question is when will BOJ act to protect the yen with intervention, as fundamentals are terrible/see above.
US rate cuts keep getting pushed back, higher inflation, consumers paying more and getting less, stagflation. No surprise Biden's in panic mode, people believe their lying eyes when shopping, buying gas etc. Consumption in US dropping on any inflation adjusted basis, just high prices, Corp $gouging. Top 1% ok, everyone else not so.
Redemption
I am getting used to being poor. Passed up by me peers in my home country, unable to afford a vacation back.
HopeSpringsEternal
US Govt on pace to record a deficit of $3.7 Trillion in current fiscal year, about size of Japan's economy at 150.
Think FRB can cut rates with above money printing inflationary spending & massive new Treasury issuance?
That's Yen's problem, all started with Biden Admin growing money supply approx. 50% in 2021, and they're still spending like drunk sailors, thus no rate cuts. Nearly entire world getting crushed by US$ based inflation.
Any real surprise BRICS so popular?! Everyone wants to de-dollarize and not have exposure to $based inflation, financial terror to world's poor busy starving as result.
HopeSpringsEternal
US inflation expectations surging, causing rates to rise across the Treasury complex, so today's token move by the BOJ underwhelmed to put it mildly.
Biden's one really worried, US consumers crushed by re-surging inflation, high interest rates and high prices. BOJ worried as well, old Santa, FRB rate cuts not happening with rising inflation, stagflation the new normal in US.
TokyoLiving
Someday the world will be free of piracy of US dollar..
BRICS+ will do the job..
Maybe could take years or decades but it will lose its power for sure..
Mark my words..
sakurasuki
So BOJ still give no effect to foreign exchange in Japan?