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Yen inches up against dollar from 32-year low on intervention fears

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Thanks to Kishida and Kuroda, we've all become 30 percent poorer since the start of the year.

6 ( +18 / -12 )

Intervention is completely useless. It is almost guaranteed the FED will go for another 75 point rate hike in November, and then probably another one in December.

15 ( +18 / -3 )

Hunt announced Monday the reversal of almost all of the controversial tax measures announced by new Prime Minister Liz Truss, which led to a sell-off of government bonds

This narrative is questionable.

Was it not the newly announced and unfunded spending that led to the sell-off? (Everyone knew Truss was selected on a platform of cutting taxes…)

6 ( +7 / -1 )

BOJ and LDP doing absolutely nothing.

no idea what to do,no interest abt japanese people and economy whatsoever.

wondering how must feel people who vote for these useless oyajis from LDP...?

5 ( +9 / -4 )

Possibility of intervention was there since the Yen was hoovering at 140 level...now at around 150 level...

BOJ have to wake up from their sleep.

Kuroda should handover the responsibilities to younger generation.

3 ( +6 / -3 )

Kuroda should handover the responsibilities to younger generation.

They should, and they will eventually. But it's like handing over the Titanic to a new crew after it has already hit the iceberg. The yen will collapse one way or another. The old farts may pass control to a new party just so they can blame the new party when everything collapses.

5 ( +10 / -5 )

All I know is that the yen is sinking and I am taking advantage of the fantastic pound exchange rate-the wife is happy too!

-2 ( +5 / -7 )

All I know is that the yen is sinking and I am taking advantage of the fantastic pound exchange rate-the wife is happy too!

Even the pound is a better place to put your money than the yen right now. Not a good sign...

4 ( +6 / -2 )

“change is risky….shoganai” and go LDP again.

It would be nice to see LDP kicked out, but then I don’t hear much about alternative approaches from the opposition parties.

They are too preoccupied trying to bash LDP over church ties, which is nothing something that directly affects the economy and matters to me.

If any party calls for massive spending reforms and tax changes and deregulation to make for some economic growth, let me know.

0 ( +4 / -4 )

150 is about right, all the big boys are making 25 to 30 % extra profit and are not passing any on to their employees and that is the problem.

When consumer prices rise and wages stay the same people suffer.

3 ( +4 / -1 )

Going to the moon by Xmas.

-4 ( +4 / -8 )

glad i get paid in dollars

0 ( +0 / -0 )

I've got so much Japanese cash in my house here in the US I'm buying a fire safe (should probably have one anyway). Picked up a bunch more yesterday at wholesale price.

We visit Japan every year to visit my wife's family and to goof off doing road trips and whatnot, and the next several trips are already paid for now. I'll probably buy even more, I can't stop. These rates are insane.

-2 ( +1 / -3 )

someone need to step down…….

1 ( +1 / -0 )

wondering how must feel people who vote for these useless oyajis from LDP...?

The actual voters are likely Moonies or Unification Church. Thanks to Abe's assassination, we know that more than half of Japan's lawmakers have support from the UC to manipulate voters and rally financial support.

There are also desperate Japanese pensioners relying on LDP old men to keep their pensions alive.

-2 ( +0 / -2 )

Given the plummeting yen down -35% YTD vs the USD, combined with a whopping 55% top tax bracket, high healthcare and pension "tax" (that combined add up to another 10% that you'll never get back), there is virtually no reason to choose Japan as an expat destination if you are a foreigner with no connection to the country looking to gain financial freedom outside of Japan. I chose to leave Tokyo during the extremely xenophobic Covid policies of 2020-2022 and relocate my source of income to Singapore. Between the 50% higher wage in Singapore, the 70% reduction taxes, and a 35% gain in currency my take home pay is up nearly 4x in yen terms. Get out while you still can folks, Japan is a nice place to visit, but a horrible place to stake your financial future and yen at 150 is just the beginning -- it can and will go back to 200+ if the BOJ does not loosen it's Yield Curve Control (YCC) policy.

0 ( +2 / -2 )

QE endless money printing only works when everyone else is doing it.

-1 ( +0 / -1 )

@J @ Tokyo

So, how do people reading your post, ‘relocate their source of income to Singapore?’

Wave a magic wand?

-1 ( +1 / -2 )

@kurisupisu find Very simple. Get a job in Singapore. Find a company that seeks your talents apply. Assuming English is a fluent language for you, there's 10x more high paying employment opportunities in Singapore vs Tokyo. Will you have to move, probably, but that's the cost of securing your financial freedom.

0 ( +2 / -2 )

J @ Tokyo

 there is virtually no reason to choose Japan as an expat destination

Affordability is a very good reason. I come from Vancouver, which has been rated by research firms as the least affordable place on earth. Similar story for those from London, Sydney, San Francisco, etc. You need to be a millionaire to survive there, a multi-millionaire to live there comfortably. Now, considerably higher inflation rates there are worsening the situation for the non-wealthy. Tokyo, by contrast, is one of the very few global capitals in the developed world where homes are affordable to the middle class.

Get a job in Singapore. Find a company that seeks your talents apply.

I worked with a woman in Tokyo who got a job in Singapore. She was living in her own 2dk apartment alone in Meguro. Her new home in Singapore was a shared flat. She said salary for her job - essentially the same as her job Tokyo - wouldn't cover the kind of home she had in Tokyo. Real estate there is crazy expensive. That's not my idea of "financial freedom."

0 ( +0 / -0 )

I was here when it was 360yen to $1 and I'm still here now-- I've seen it go from 360 down to 75 and now at 150. Great for those of us getting paid in dollars.

0 ( +0 / -0 )

PS--just bought a new car and got a great deal because of dollar/yen rate

0 ( +0 / -0 )

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