Wednesday, September 2, 2009

Yen rises in Asia as stocks slide

This article discusses about yen rises against Euros and US Dollars. The article argues that the nervousness of investors about sustainability of global economic recovery leads them to invest for a relatively safe currency.

Bad News for Japan: Since September 2008, yen rises so much against other currencies and I believe it causes one of the reasons for the current economic downturn in Japan since Japan is one of the export oriented countries.

For example, when I came to the US in September 2006, $1 could buy 120 yen and now $1 can buy only 92 yen. Also, 1 euro could buy 159 yen on September 1st, 2008. However, 1 euro can only buy $133 yen on September 1st, 2009.

Good News for me: When I visited Europe during the summer of 2007, I surprised with how everything are expensive compared with Japan and the US, but situation should have changed by now if I visit my old friends in the UK.

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