Dollar briefly plunges to ¥139; lowest since July 2023

National holiday today, so this was with the JP market closed. Maybe bigger action tomorrow, depending on what happens in other markets overnight.

Nearly half of the 115 to 160 move from early 2022 has been retraced now, in only about ten weeks. Don't be surprised though if folks keep going on about "the weak yen" as an excuse for things going up in price.

Yeah and if this continues, expect an end to the tourist boom just as new tourist taxes etc come into place.

if this continues, expect an end to the tourist boom

Japan saw 30 million visitors in 2019 when the yen was 104 to the dollar

The dollar's weakening against the yen came ahead of the Fed's two-day policy meeting from Tuesday.

They are going to cut interest rates because the US is in a recession. We’re just waiting to see how much they’re cutting to see how serious they think the problem is but the cut has already been decided.

If they cut more than expected brace yourself for a longer recession. If November 5th results can be acknowledged and validated, and the Biden Harris, succession, as opposed to an election, can fly under the radar of the American people then the dollar’s decline will not be a fall.

Keep going down please.

toraToday  05:48 pm JST

Yeah and if this continues, expect an end to the tourist boom just as new tourist taxes etc come into place.

Despite what you read in Japanese news, the exchange rate does not affect the incoming tourists. Nobody cares or picks their holiday based on currency rates.

@WeiWei

Actually, tourists do take account of exchange rates when planning trips.

The tourists that largely visit Japan certainly choose to come due to geographical proximity.

The majority, being Asian indicates that most of those arriving are on package tours.

This is what I notice when about in city areas.

Personally, exchange rates influence the length of my stay and where currencies I use are strong or weak.

120 yen to the dollar please!!

Makes you wonder if any rise is in the S&P500 is just lost to the yen just getting stronger. Up 1% in the S&P500 to see it still transfer into a loss when its all all converted back into yen. A think alot of japanese have seen their investments get hit with this.

We, the one that are receiving the salaries in JPY, wish that the Yen becomes stronger not only in front of USD but also Euro and Pound too.

Recently, with the high devaluation of the Yen, we felt like we couldn't plan any trips outside of Japan.

Now finger cross for 1Euro=100JPY.

The FREE RIDE is over, Exporters made tons of cash off the back of the weak yen and the general public and now the free ride is about to end, back to 110 to 112 rate, no more complaining about over tourism people bcz. you won't be seeing them again at this level for the next 30 years of so.

Back to work everyone, I mean real work.

"" Nobody cares or picks their holiday based on currency rates. ""

Must be joking.

We, the one that are receiving the salaries in JPY, wish that the Yen becomes stronger not only in front of USD but also Euro and Pound too.

The East is far from the West.

Americans who don’t have money, borrow money and spend money.

Chinese have money, save money and don’t spend money.

With consumer spending, the US economy per US media is doing great.

The Chinese economy, with sluggish consumer spending and frugal savings, per same media, is about to collapse.

With non-dollar options the demand for usd will likely decrease a bit .

people consider heavily exchange rates when traveling. Friends in the U.S. now are reconsidering their trip. It has become less affordable and with unreadably small hotel rooms at very expensive prices the lower yen amount surely will have its touch. The artificial rate, because of the governments intervention, will overall hurt the Japanese economy as the overfill factors that Japan in the long run can’t compete with China and influx of cheap poor labor, standards are lowering meaning quality is already suffering. The robotic substandard service will only continue the Japan slip in overall gdp

Even at 100 yen/1$ Japan is a cheap destination. Check hotel and restaurant prices elsewhere.

people consider heavily exchange rates when traveling. Friends in the U.S. now are reconsidering their trip. It has become less affordable and with unreadably small hotel rooms at very expensive prices the lower yen amount surely will have its touch. The artificial rate, because of the governments intervention, will overall hurt the Japanese economy as the overfill factors that Japan in the long run can’t compete with China and influx of cheap poor labor, standards are lowering meaning quality is already suffering. The robotic substandard service will only continue the Japan slip in overall gdp

Japan is not an amusement park for US citizens. Some of us work hard trying to build their future here.

The artificial exchange rate was the previous one, not this. The differential in the interest rate between the two countries is what drove up the exchange rate. Now that America must cut the interest rate to save the economy, the exchange rate will favor the yen by a lot (at last)

About time.

drop it about 30 yen more and we’re good to go.

Since my yen were so weak I didn't touch them this summer. Now they are worth more!

quercetumSep. 16 08:10 pm JST

Chinese have money, save money and don’t spend money.

And put it in their houses of declining value.

With consumer spending, the US economy per US media is doing great.

That's what a wealthy country is in this world. China might never find out.

The Chinese economy, with sluggish consumer spending and frugal savings, per same media, is about to collapse.

Certainly in stagnation phase.

With non-dollar options the demand for usd will likely decrease a bit .

There have been non-dollar options for 30 years or longer.

quercetumSep. 16 05:58 pm JST

They are going to cut interest rates because the US is in a recession.

Said no one ever. Stock market wouldn't be near record highs if a soft landing wasn't still predicted.

We’re just waiting to see how much they’re cutting to see how serious they think the problem is but the cut has already been decided.

Yes, interest rates do change.

If they cut more than expected brace yourself for a longer recession. If November 5th results can be acknowledged and validated, and the Biden Harris, succession, as opposed to an election, can fly under the radar of the American people then the dollar’s decline will not be a fall.

Treasury yields still low. Dollar going to be in front of you for a looooong time to come.

Should be good for Japan regarding the tourism situation.

Not good for prospective tourists with less budget of course.

quercetum

They are going to cut interest rates because the US is in a recession. 

Right, the economy growing 2,8 percent in the last quarter with a 2.9 percent rise consumer spending, and now interest rate cuts in the offing - this must be the strangest "recession" ever. LOL.

@JeffLee

I think that’s fair. One way is to look up at the sky and say it’s not raining. Another is to see all the weather forecasters carrying umbrellas.

They are going to cut rates gradually three times as in a soft landing. That’s enough to tell you.

Prices are just high and that affects purchases.

A typhoon is coming but hasn’t hit your town, so…what typhoon? There’s no typhoon.