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Yen strengthens on reports Ueda picked as Bank of Japan chief

20 Comments

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Really, nothing has changed when I checked out the exchange rate.

4 ( +7 / -3 )

We will see. But another septuagenarian in a position of power in Japan. .The guy is 71 years old…

2 ( +9 / -7 )

The Nikkei said Ueda worked at the BOJ when it introduced its zero-percent interest rate policy, and cast a vote against lifting the measure in 2000.

Over 20 years of failure. This if anything else says a lot about how fast Japanese dont move!

-4 ( +5 / -9 )

Japan’s Government really makes their people really look stupid with all their lies

-5 ( +4 / -9 )

the yen rallied in the afternoon, with the dollar buying 129.82 yen, against 131.54 yen before the news emerged...

...and then about an hour later it was back up to 131 and currently stands at 131.42.

So much for that "rally".

5 ( +9 / -4 )

"...it sees no reason to abandon its dovish policies."

You may not see a reason to abandon Japans economic dovish policies, however the entire rest of humanity does.

-2 ( +4 / -6 )

“But another septuagenarian in a position of power in Japan. .The guy is 71 years old…”

Joe Biden is 80 years old and Donald Trump, at 76, is seeking re-election.

6 ( +8 / -2 )

Let me guess, more of the same!

1 ( +2 / -1 )

You may not see a reason to abandon Japans economic dovish policies, however the entire rest of humanity does.

 You mean like the rest of the world that is mired in poverty and soring inflation? You mean like the UK and Europe where they are burning wood to stay warm because they cant afford heat?

-1 ( +4 / -5 )

Really? The dollar actually strengthened overnight…

4 ( +5 / -1 )

Wake me when it gets to about one hundred or so.

1 ( +2 / -1 )

Last week I exchanged at 131. Happy with that. Currently 131.42.

2 ( +3 / -1 )

rate is same.where can I report hoax?

or maybe problem is in bank as they dont read your positive "news"?

I am very confused...

1 ( +3 / -2 )

Japan is very highly developed. Capitalist economy has reached a dead end. I know the economics and philosophy professors at, at least one top state university in Japan know it.

Unless Kazuo Ueda is first and foremost a policy hack who does what he is told rather than a principled professor, he knows it's merely shifting deck chairs on the Titanic.

0 ( +3 / -3 )

Japan is basically done.

-2 ( +2 / -4 )

Capitalist economy has reached a dead end.

Rather, by becoming less socialist and more capitalist, some believe that it would give Japan a boost, or kick in a better direction than it has been on for the past 3 decades.

-3 ( +0 / -3 )

@Eastman: Certainly not a hoax if you had access to live market data, which you clearly don't.

JGB, JGB Futures and Forex markets all had plenty of volaltity late Friday when the nomination was leaked.

1 ( +1 / -0 )

Break the YCC, Yen appreciates to 80-50 against USD, temporarily. Japan forces to repay its own debt that it couldn't. Credit rating agencies downgrade Japan to a speculative level, and Japanese banks will become useless as they can't use JGBs as collaterals to rally foreign currencies. No one will want to lend money and invest in Japan. The Yen will return back to the hyperinflation spiral.

Keep the YCC. Yen will continue to depreciate as the BoJ will own all of JGBs. Monetizing the debts through printing new Yen. More inflation per year = Hyperinflation. Declining purchasing power. More expensive imports will lead the total collapse of domestic economy since Japan is a heavily import nation.

These are two choices that the BoJ has to make.

-1 ( +0 / -1 )

It's been weakening slowly but steadily since this article came out.

0 ( +0 / -0 )

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