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Tough day

29 Comments

A foreign exchange dealer rests his eyes in a trading room in Tokyo on Tuesday.

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29 Comments
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Looks like he is all stressed out from all of the money that he lost. I hope he doesn`t do anything stupid like committing suicide or something like that.

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Good morning, wake up call to FX dealers...YEN is strengthening further !

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God, the media love to use photos of the stressed-out trader. I don't think he is the one who is really hurting when the economy is crap.

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he is still making his commissions.

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What commission?? He probably lost it all as the markets closed.

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greedy people gambling with others money rather than doing something useful

-1 ( +0 / -1 )

One's man pain is another man's pleasure! Somebody take my picture as I am filling out my kokusai kawase (international postal money order) at the post office! I have a huge smile and my "V" hand sign is really cute! Go, go, Yen!

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greedy people gambling with others money rather than doing something useful

Pretty much this..

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He's saying: 'Oh lawdy, endaka!'

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This rate 85~ish Yen to the dollar is killing me... I am paid in dollars and I have have to convert every month into Yen. Ouch with a capital O....

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That room should be illuminated with bright blue lighting.

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susano

greedy people gambling with others money rather than doing something useful

How do you know he is gambling? And it is something useful! What would the world be like if you couldn't exchange between currencies?

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I guess he is short the yen. Ooops. Don't guess it, straddle it!

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83.0 yesterday 73.0yen tomorrow. Joy joy joy !!!!

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Poor soul. Computers are tough on the eyes, whatever they read!

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I understand ya, bro. I completely understand ya.

looks at exchange rate and cries

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inai inai ... baaa!!

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short the dollar!! nice rate today...

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Cool composition. In between the two countries' flags/currencies.

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Unbelievable how the yen just gets stronger. eventually this has to give. especially with the great state of Japanese government and mounting debt.

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I feel his pain. A couple years ago, I got suckered into a leveraged carry trade off shore real estate deal by some shifty gaijin financial advisors. All was good when the Yen was dropping. Once it started to turn, the bank started margin calls and cleaned me out. Looking at the exchange rates made me sick.

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To all of those being gleeful about the strength of the Yen: PLEASE be a little more far-sighted - I'm paid in Yen, but when it is killing off your clients slowly, you can see it very much as a double-edged sword.

If you're an English teacher or hostess just dropping in for a year or two to make some Yen, then I guess you have no reason to care about the health of Japan's economy as long as the money keeps coming.

But for those of us whose clients trade overseas, or whose friends simply cannot afford to come to Japan because of the unreasonably high Yen, or who are committing their future to this country, this is really bad news indeed. Japanese trade will shrink, industrial production will fall and imported goods will get cheaper. The economy will continue to stagnate and it will basically cause a lot of pain, cost cutting and lost jobs. Ultimately everything will get worse the longer this goes on.

I suggest you are a little more thoughful, and appreciate that your good fortune has a flip side for other people.

FnC

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greedy people gambling with others money rather than doing something useful

most uneducated and ignorant comment I've seen all day. Do you know ANYTHING about finance? How about getting a book and stop embarrasing yourself.

Very well taken picture, btw. I didn't know trading floors allow cameras though :-)

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how do you guys know he is stressed out? maybe he's just working long hours and is tired or the computer screens causing him dry-eye, headaches, etc...who knows.

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Maybe he's a Scotland fan! (football reference)

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The man lost something...

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During the Korean War I spent a tour on Itazuki Air Base when the Yen was 360:1. With the Yen at 84:1 seems unreal!!!!

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In the last few years many institutional investors borrowed yen at very cheap interest rates, used it to invest in other countries where the returns were higher. Today, with the financial crisis, the stock market is down, returns are less due to lowering of base rates, investments looking more risky, the need for cash is high to cover write downs. Therefore a lot of these loans are being repayed. In order to repay they need to buy yen, so due to high demand the yen has appreciated.

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susano at 08:44 AM JST - 8th September

greedy people gambling with others' money rather than doing something useful

Ummmm...no.

Speaking as an amateur FX trader, I think that this would be an ideal way to fill your pensions while you're out here teaching at a job with dubious pension benefits. It is by no means a sure thing, but then, neither was the housing market in 2008.

You can trade anywhere there's a relatively fast connection and the market runs for 24 hours a day, from Monday morning in Japan to Friday afternoon in New York.

And a lot of us are gambling with our OWN money, thank you.

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