The yen tumbled to its lowest level against the U.S. dollar in more than six years on Monday. Photo: iStock/fatido
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Japan, U.S. to closely watch currency movement as yen tumbles

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Remember currency manipulation is illegal Japan, you have mistakenly admited to it a few times in the past.

https://japantoday.com/category/politics/update1-u.s.-keeps-japan-china-on-monitoring-list-over-currency-practices

-2 ( +16 / -18 )

I foresse the day the yen will be worthless.

-16 ( +14 / -30 )

If that happens, I bounce to Hawaii.

-15 ( +5 / -20 )

If all your money/assets are in Yen, more fool you.

3 ( +17 / -14 )

No reason to panic. As the ultimate safe haven, the dollar always rises during international crises. When the Ukraine situation is resolved, the yen will return to its proper level.

14 ( +21 / -7 )

Glad I am paid in yen!

0 ( +7 / -7 )

Good news for Japan. Now Japanese companies will crush the competition and take market share away

And in the event there were such an unforeseen turn, which I would welcome personally, you would receive....zero...for your cheer-leading.

1 ( +10 / -9 )

Something unusual is happening. The yen has been depreciating against almost all the major currencies. Even against the pariah currency, the ruble.

7 ( +11 / -4 )

Jonathan PrinToday  05:06 pm JST

I foresse the day the yen will be worthless.

Really? I'd be happy to buy your Yen for JY1000=USD1.00.

Get out now while you can!!

5 ( +11 / -6 )

The Koreans are all in a tizzy that of late the Won has been doing mightily against the Yen.

-6 ( +4 / -10 )

It's raining money. I think I've seen that pic in my dream. When Japan Inc needs to boost exports and lift the economy it simply lets the yen fall. Strategy should be fine since everyone is focused on Russia and the US is hardly likely to have a serious issue with Japan in these times.

3 ( +5 / -2 )

Not gonna lie, feels kind of good getting my earning in USD at the moment, hoping to land a big deal before it goes back to normal.

-4 ( +2 / -6 )

Very good news for Japan. Tourists will spend more, and more foreign companies can invest more in Japan. Lets get back, to some degree, to the good old days of the early 1980's.

-10 ( +5 / -15 )

 "excess volatility and disorderly movements in exchange rates have adverse implications for economic and financial stability."

Yeah but if you engage in cavalier currency policy then you can’t expect to have stable exchange rates. Duh.

1 ( +2 / -1 )

The end is close, we already can hear the bells of the upcoming bankrupcy.

Japanese Government keeps giving subsidies for elders, mothers, singles, everyone around, coupon programs and so many more that I can't even remember.

Get out of YEN until you still can, the printing won't stop and is the only answer the Japanese have.

-4 ( +7 / -11 )

I foresse the day the yen will be worthless.

When I came here the first time in 1973, the yen to dollar conversion rate was around ¥360 to $1.00. It wasn't worthless then, and when the dollar fell to ¥89 a couple of decades ago, it was likewise not worthless.

5 ( +14 / -9 )

One way to boost exports and screw imports .

-3 ( +1 / -4 )

No reason to panic. As the ultimate safe haven, the dollar always rises during international crises. When the Ukraine situation is resolved, the yen will return to its proper level.

https://finance.yahoo.com/news/saudi-arabia-considers-ditching-dollar-170000924.html

I think it's safe to say we really should panic.

The Saudis are angry over the U.S.’s lack of support for their intervention in the Yemen civil war, and over the Biden administration’s attempt to strike a deal with Iran over its nuclear program. Saudi officials have said they were shocked by the precipitous U.S. withdrawal from Afghanistan last year.

China buys more than 25% of the oil that Saudi Arabia exports, and if priced in yuan, those sales would boost the standing of China’s currency, and set the Chinese currency on a path to becoming a global petroyuan reserve currency.

1 ( +5 / -4 )

Ken HolcombToday  07:38 pm JST

I foresse the day the yen will be worthless.

When I came here the first time in 1973, the yen to dollar conversion rate was around ¥360 to $1.00. It wasn't worthless then, and when the dollar fell to ¥89 a couple of decades ago, it was likewise not worthless.

In 1973 it was JY263=USD1.00. Still allowed me to pick up electronics for cheap in Akihabara that year.

JY360 =USD1.00 ended in 1970. In 1971 it ranged from 301-314.

4 ( +5 / -1 )

Nobody should keep any money, apart from everyday needs, in the poison yen. You would have to be insane to keep anything in the rapidly depreciating yen. 150 yen to the dollar is said to be reached in the near term.

For several years I have kept all my money in swiss francs and dollars. And I’m really glad about that!

Everybody get out of yen now, before it gets any worse.

-2 ( +2 / -4 )

USA is helping to depreciate the yen so that it will protect Japan's strong economy .

But however Japan is not as foreigner friendly as the international community wants and people cant travel to Japan now to take advantage of the exchange rate.

Many have lost interest in learning Japanese language and Japan it's rapidly turning into a non- pacifist country.

Shame to see Japan going downhill so quickly.

Great time to travel to Japan but why bother.

-9 ( +4 / -13 )

Yen is a toilet paper status currency. Japan can't compete through innovative, value-added services, so they have to manipulate their currency downwards. Unfortunately, the real gains from Japan's currency manipulation are not shared with its workers.

See Richard Katz's article on weaker yen.

-8 ( +7 / -15 )

As usual the Japanese public will suffer whilst the large companies get their slice of the pie.

-7 ( +4 / -11 )

Don't be distracted by the yen/dollar rate. These are two countries that love printing money that they do not have. What's more interesting is the RUB/USD.

The ruble is freely strengthening against the dollar and has been since the 9th of this month. It is not quite back to Feb 24th but the Russian Central Bank will restart buying gold from banks and will pay a fixed price of 5,000 rubles per gram between March 28 and June 30.

This is another Russian chess move to incentivize holding rubles because the ruble is undervalued relative to an overvalued open gold price.

We are waiting to see the next move when EU refuses to pay for gas in roubles. Russia is not going to shut off the valves but it is also not going to give away free gas.

-2 ( +1 / -3 )

I find it significant that Sakakibara counsels intervention in the currency market and/or raising interest rates, in the event the yen weakens beyond 130 (122.5 as I write).

0 ( +0 / -0 )

geronimo2006Mar. 29  07:00 pm JST

It's raining money. I think I've seen that pic in my dream. When Japan Inc needs to boost exports and lift the economy it simply lets the yen fall. Strategy should be fine since everyone is focused on Russia and the US is hardly likely to have a serious issue with Japan

> JROMar. 29  07:09 pm JST

Not gonna lie, feels kind of good getting my earning in USD at the moment, hoping to land a big deal before it goes back to normal.

My fellow veterans who have been stationed in Japan have all told me about the good quality japanese goods and the American imports, all at good discounts. And lately I've been able to get good quality SHM CD-2 remastered CDs at good rates as well. The US dollar is usually strong there from what I've heard.

0 ( +0 / -0 )

Yen is quickly becoming a monopoly funny money..

-8 ( +0 / -8 )

Starpunk

An economy that relies on cheap currency to stay afloat is not a healthy one. It makes corporate balance sheets look good but real gains are not shared with workers. This is not theoretical. The real wage for Japan has remained flat despite depreciating yen.

see Richard Katz’s articles on depreciating yen.

-3 ( +5 / -8 )

This nonsense had been going on for years. The only way the rich make money is by artificially manipulating the markets. In a year or 2 the yen will be back up to 100 or 90 while the manipulators cash in

0 ( +2 / -2 )

In 1973 it was JY263=USD1.00. Still allowed me to pick up electronics for cheap in Akihabara that year.

So sad those days are gone. Often used to go to Akihabara after work and browse all the latest electronics. Always finished the evening in a lovely coffee shop in Ochanomizu.

-5 ( +0 / -5 )

Remember currency manipulation is illegal Japan,

actually it isnt, just not liked, quantitative easing is a tool that almost every country has used in the past including the Trillions printed by the US, very difficult to call somebody a currency manipulator when theyre just using the same policies that youve used i the past

-1 ( +0 / -1 )

-Very good news for Japan. Tourists will spend more.

There are no tourists any more. Have you not been paying attention?

The exporting isn't going so well either. No chips for the cars, reduced output when power is rationed and Japan Post have repeatedly suspended international services, leaving Japanese goods more expensive when you add in the courier fees.

4 ( +4 / -0 )

wtfjapan

Someone like Trump isn't going to be satisfied with just money. He also craves power, hence his run for Presidency. I work in Corporate America and I see first-hand how higher-ups love the power trip they get out of bossing around their subordinates. Money is good and all, but to be able to instill fear and nervousness into your subordinates is a different kind of feeling and feels almost as good as that act that causes climaxing.

-4 ( +3 / -7 )

I went out and bought ¥200,000 this morning. That'll soften the blow of the next time I bring my family over to visit family and friends in Japan.

0 ( +1 / -1 )

This is bad news.

-5 ( +0 / -5 )

There are no tourists any more. Have you not been paying attention?

The exporting isn't going so well either. No chips for the cars, reduced output when power is rationed and Japan Post have repeatedly suspended international services, leaving Japanese goods more expensive when you add in the courier fees.

Of course I have being paying attention. Tourists will be returning to Japan slowly but surely as Convid restrictions are lifted.

As for exports, well the lower ¥ is helpful. As I stated, things will revert back to some degree, but never to the real good old days which is a bygone era.

-3 ( +0 / -3 )

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