Yen hits multi-month highs against euro, dollar

neither happy nor unhappy, strength of Yen is kind of Govt.'s private property, benefits not passed on to consumers.

It is a race to the bottom (about who can devaluate their currency fastes), but compared to disaster-bound Euro and the Obamanomic overinflated dollar, the tendency for the Yen will be up for a long time.

In the past 10 years Yen has appreciated 50% against the Korean Won, 9.75 to 15. No wonder Sony, Panasonic, etc are dying while Samsung, etc are booming. BOJ and MOF are still not supplying enough Yen to the strong global demand. BOJ is too relax. Japan exporters cannot compete on this exchange rate. Sayonara, Japan.

considering the internal problems that Japan has and will have in the future, I don't understand how the Yen is still considered a "safe haven"

A strong yen does nothing for this country that relies heavily on exports

hmm....time to buy dollars?

@WillB, agree with ya.

Almost all of this debt (I believe more than 90%) is owed to Japanese or Japanese banks, companies, etc. Basically, Japan creates money that Japanese people/investors happily use to buy Japanese bonds. Net result : nil. The bank of Japan could as well print money and stokpile it under a mattress for equivalent results.

Matt-

Right there with you, it's painful and depressing! I don't know what's going to happen if it stays like this!

it's killing off tourism too, before all these banking troubles (since summer 08) myself and friends used to visit japan at least once if not twice a year, now the yen is so strong we hardly even consider coming anymore. All those electronic gadgets we would buy in droves are now cheaper back home, meaning when we do visit for a holiday - we don't spend much at all.

Japan, please accept our humble invitation to become the 51st State. We will change our currencies to the Yellar and manipulate the markets for the next 20 years, after which we can part ways and revalue our original currencies again.

Japan, please accept our humble invitation to become the 51st State. We will change our currencies to the Yellar and manipulate the markets for the next 20 years, after which we can part ways and revalue our original currencies again.

Thanks for a belly laugh. I am sorry I do not want to defend anyone here. This is the best post for the week. I BOW!

The euro and dollar are both so weak because they are inextricably mired in the PIIGS debts, as well as US record debt. That's where profligacy leads, ; to the poorhouse.

Crash the yen and hurry up

Yeah, GREAT...and those of us that are working on a Base, changing our USELESS US Dollar to ¥en, to pay our Shared Room/Train Pass, STARVE...I've lost TEN POUNDS (4-5KG) since I moved back here....keep it up, I'll be out there in Shinjuku or Ueno, living in a cardboard box MYSELF if THIS keeps up.

Last year, the analysts and nearly everyone on this board predicted the yen would sink by now. Just goes to show....

It seems bizarre to me. Sure, these other economies are down the toilet. But Japan is hardly a tower of strength. My advice? Enjoy the spending power, but don't expect it to last for ever.

I will not sell yen yet. Europe problem may be worse in June. It may be possible to buy Euros for 90 yen shortly, Dollars for 75, Aussies for 70. Maybe even cheaper, if shocking events happen suddenly. I remember 2008 very well. Maybe we should keep yen until 2013.

Now would've been a good time to sell my yen :(

well, all I can say is..good bye japan, ya had a good run

JeffLeeJun. 01, 2012 - 05:59AM JST

Last year, the analysts and nearly everyone on this board predicted the yen would sink by now. Just goes to show....

Wrong on both counts. A lot of people, including me, predicted it would be higher, at Y75 to the dollar.

As long as Japan runs current account surpluses, while there's a crises of borrowing for those running current account deficits, that is the way it will remain. One of the basic and simple rules of world economics in the last 150 years is that currency values, other variables excluded, will smooth out trade deficits between countries. Japan may think it had found the elixir of youth, but it hadn't and will be on a downward spiral until it builds a domestic consumer base. However that domestic base is very quickly declining with an aging and shrinking population

Meo-mercantilism is all very well for developing economies, but in the end its a poisoned chalice that builds a sustaining economy on weak foundations. Production increases but the domestic economies appetite for things is quickly slated.

Those weak foundations, irrelevant of the Yen's strength, are collapsing for japan and they will for Korea in the next 10 years and China in the next 20.

The Asian century is hype.