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Tokyo stocks drop for 2nd day as exporters hit by stronger yen

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Stronger yen?

2 ( +6 / -4 )

Boo hoo

-5 ( +3 / -8 )

amid anticipation that the Federal Reserve is likely done raising rates, dealers said.

We’ll see about that next year, but on this other side of the Pacific, the BOJ is absolutely not done printing trillions of extra yen each year… and the short term policy rate is not going much above zero next year.

Stronger yen?

Relative to last week :)

Actually I think the yen weakness is done for 2023. I don’t expect it to get back above 150 barring some surprising US news.

But come 2024… I expect the yen weakness to resume.

Still, the Japanese Lira is stronger than the Turkish Yen and Argentinian Peso, so not worst in class… but the Turkish bank has rates up at 30%? now, and the Peso is perhaps to be mothballed, so the Japanese Lira may be the biggest loser in 2024.

-3 ( +2 / -5 )

Hate to say it but the weak yen is boon for me -

travel in Japan is cheap and getting cheaper so I’m off sightseeing this week.

-1 ( +1 / -2 )

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