picture of the day

Mighty dollar


A TV cameraman films in front of a monitor displaying the Japanese yen's exchange rate against the U.S. dollar at a foreign exchange company in Tokyo on Friday. The dollar broke above the 100 yen level for the first time since April 2009.

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The dollar is mighty at 101, is it? It must have been Almighty in 1988 when it bought 240 yen.

-3 ( +1 / -4 )

Perhaps foreign tourists will start returning. Perhaps...

1 ( +2 / -1 )

Only once airfare drops to reasonable levels.

2 ( +3 / -1 )

Perhaps foreign tourists will start returning. Perhaps...

Not perhaps but they already returned breaking few years records in the Q1.

-1 ( +1 / -2 )

Mighty Dollar?? Not really, just a pathetic yen. Get out of yen now today. It has far far far to fall yet.

-3 ( +3 / -6 )

Serrano, try 1985 at those prices. '88 it hovered in the 120 -130 range

0 ( +1 / -1 )

All I know is this makes currency conversion a bit easier. Shift the decimal place to the left by two places and you have a very close approximation of the price in dollars.

0 ( +0 / -0 )

Tourism in Japan is already crazy expensive in yen. I cannot imagine the future when Japanese people will spend all their "vacations" only in Japan because of weak yen.

100,000 yen a single hotel night?!

2 ( +3 / -1 )

Good for tourists is this collapsing currency. Immigration will be thrilled with all the fingerprints they will be able to play with! I guess far fewer foreigners will drift to Japan for what are now piss poorly paid jobs in english teaching, cleaning and factory work and the ilk.. When converted back to dollars these piss poorly paid jobs pay 25% less than 4 months ago even!

-4 ( +1 / -5 )

These things go in cycles. The yen has been strong for a while and now it's weak and later it will be strong again. Best to keep your financial assets always in a basket of different currencies and other assets.

-2 ( +2 / -4 )

At 100 Yen to Dollar Japan is in the best spot. If it depreciates further the JGB market might actually collapse, as inflation really pick up in Japan. Abemonics is good only to a certain extent, and likely only in short and medium term. The Nikkei has already rally sharply in anticipation of better economic times. Japan will likely move into quick & sharp boom-bust cycle, given the backdrop of declining and rapidly aging population. Strategically, it is best to take advantage of this huge Nikkei boom to liquidate some stock holdings.

2 ( +2 / -0 )

It is ridiculous. The Dollar is not mighty; all that Abe is doing is trashing the yen. Of course, all governments can do that. Printing money is easy, and seemingly painless. Like the German economist Werner Sinn put it: Printing money is like pooping in your pants. Initially, it feels warm and nice. But then you find out it was not such a good idea after all...

0 ( +1 / -1 )

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