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2012-12-27 China-Japan-Koreas
Japanese yen hits 27-month low against US dollar
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Posted by tipper 2012-12-27 01:24|| E-Mail|| Front Page|| [214 views ]  Top

#1 I'm confused. When they say that the Yen dropped are they saying that $1.00 buys fewer yen than it did? Or is a "weaker" yen one where $1.00 buys MORE yen than it did?

I thought that the stronger the currency the MORE of a different currency it bought which would mean that the lower the yen number the stornger the yen but this sounds backwards. Of course the lack of labeling on the graph and the lack of definition on the pronouns doesn't help.
Posted by AlanC 2012-12-27 08:34||   2012-12-27 08:34|| Front Page Top

#2 Update
Looks like panic is setting in.
Japan Will Limit Debt Financing, New Minister Asserts
Posted by tipper 2012-12-27 11:08||   2012-12-27 11:08|| Front Page Top

#3 That doesn't look like panic to me, tipper - that looks like common sense.

"He has even suggested that Japan's central bank should print "unlimited yen" to help stoke inflation."

Mr. Abe must be the love child of Bernanke and Geithner. :-(
Posted by Barbara 2012-12-27 13:08||   2012-12-27 13:08|| Front Page Top

#4 The graphic at the article shows that the Yen now buys less of a US dollar than it used to, i.e. it takes more Yen to buy one dollar.

Translated into policy terms, this is an attempt to prop up Japanese exports to the US (dollar buys more goods), to compete against US industry (dollar-denominated goods are more expensive) and to try to get the Japanese economy moving again.
Posted by lotp 2012-12-27 16:18||   2012-12-27 16:18|| Front Page Top

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