politics

Concerns growing within ruling party over weak yen

19 Comments
By Tetsushi Kajimoto and Yuko Yoshikawa

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19 Comments
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Japan has a yen for weaker currency.

-2 ( +3 / -5 )

What do you expect when your export business account for only 15 % of GDP. The weak yen has only helped the large multinationals which generate revenues overseas with repatriating profits. Corporate Japan! This government has no idea and is digging a deeper hole with all the printing and asset purchases. Artificially propping the markets with ReIT and ETF purchases. When Kuroda eventually will tapers due to BOj and JGB credibility issues, watch out DOOM day!

2 ( +7 / -5 )

Such are the problems when you have a country and a ruling party that has relied on currency manipulation for decades to make the economy work.

2 ( +10 / -8 )

We just need to give Abenomics a little more time.

It's sure to start working soon.

After all, it's only been a few years.

In any case, the next tax hike will improve the economy.

Thank you Mr Abe.

8 ( +12 / -4 )

Weaker yen ... oh the double edged sword. Mr. Abe, be careful what you wish for.

4 ( +5 / -1 )

The historical record proves that currency manipulation can be a slippery slope. The United States started to get some dollar devaluation in the big shift away from gold in 1971; by 1973, it couldn't stop the process.

1 ( +4 / -3 )

Weak yen was the goal, it was weaker before the lehman shock, was not so much noise being made then, and now it is a tool for abe to achieve his inflation goal. You cannot have your cake and eat it too. Bu the fools have no idea.

The weak yen does not only help large corporations I can assure you of that.

If they stopped the inflow of the large volumes of fuel to generate electricity this would go some way to relieve the strain.

The yen should be around 110-120 where it was prior to 2008 crash.

The reactors turned back on.

Watch production get going again.

-2 ( +6 / -8 )

hot air. They need a weak yen and a dose of inflation in order to monetise the huge national debt. 120 to 140 the goal. agree they need to put the nukes back online.

0 ( +8 / -8 )

I have a couple of hundred thou in dollars I want turned into Yen. Get it to ¥200/$1

-4 ( +2 / -6 )

I agree with you shonanbb ... but I have over $100,000 I hope to change ..... in my eyes ... go up, up and out of sight! LOL

0 ( +2 / -2 )

kitzrow and shonanbb -- strange logic. Why would you want to exchange dollars for yen, when everything you could buy that is yen denominated is ridiculously over-priced?

0 ( +4 / -4 )

Oil prices have been plummeting recently, hopefully that will ease some of the "pain" of the yen weakness.

Good job shonanbb, but if you ever convert those dollars to yen, don't forget that the tax agency expects it's cut of your yen profits. (If the yen does go to 200 I think I'd hold on to those dollars anyways, unless I needed to spend them in yen.)

2 ( +2 / -0 )

I'm not surprised concerns are growing inside the LDP. There are a load of elections coming up and Japan's elderly are upset they are paying higher bills and higher taxes on a reduced pension. Abe's popularity is now only around 50%, so there may be a backlash in the coming elections from the ageing electorate, which means there are jobs on the line. Personally I doubt there will be much of a backlash as there is no credible opposition to the LDP, but it is a growing fear inside the ruling party as the economy continues its downwards tread.

2 ( +4 / -2 )

I have to pay my loan off for my house Jerseyboy...... and dollars will not do it. Got dollars at 103 and 93 yen ... need it to go up a bit to make it all worth the exchange.

-1 ( +1 / -2 )

From what I've read and seen, the Japanese economy has been stuck in the doldrums for years, poor exports stagment investment etc, Sometimes you just need a fresh leader who has not got OLD ideas and old leaders you need some one forward thinking, open mind, I can see where Abe is going, but it will take a long time to change its not going to change over night, but it will be a long a painful route.

0 ( +1 / -1 )

The yen should be around 110-120 where it was prior to 2008 crash. has it been that long that these J pollies cant remember the economy was doing fine. biggest difference is the N reactors are now off. theyll be switched back one soon and energy imports will plummet. 110~120 range is where Japan should be. No not at 80~90 range as all the import lovers seem to think it should be. it will never get back to that level again unless the Fed Reserve start another massive money printing round which is what caused the imbalance in the first place.

-1 ( +1 / -2 )

klausdorth,

By the way, "BertieWooster" - I strongly assume that you had your sarcasm mode turned on, right?

OF COURSE.

Please don't tell me you thought I was serious!

1 ( +1 / -0 )

Be careful what you wish for.......

-1 ( +0 / -1 )

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