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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