What's up with the value of the YEN?

[AlbertSiegel]

It's now at 111 to the USD! Should I just exchage some money now or will the YEN go back to the 118 -120 area? I still have 6 weeks before I arrive in Japan.

[Taro Toporific]

[kamome]

This sucks! I get paid offshore, so now my dollars won't buy me as many Asahi brewskies.

[ramchop]

Currency intervention is normally considered an ad hoc measure to moderate wild swings in exchange rates. In this sense, the yen appears to face further upward pressure -- for now at least. As a leading U.S. business executive has said, the weaker yen may be more of a problem than the fixed yuan. It will not be surprising if the Japanese currency rises above 110 yen to the dollar.

[Taro Toporific]

Currency intervention is normally considered an ad hoc measure to moderate wild swings in exchange rates....

From: Richard Katz (Senior Editor of The Oriental Economist)

Subject: NBR'S JAPAN FORUM (ECON): How much to move the Yen?

...An experiment conducted by the Federal Reserve sheds light on the difficulties, particularly in the short term. I forget the specific details, but the gist is this. The Fed challenged anyone to come up with a model that did a better job predicting the value of the dollar six months down the line than simply tossing a coin. The coin toss won.

http://lists.nbr.org/japanforum/showMessage.asp?ID=10220
Date: Thu, 25 Sep 2003 16:58:47 -0700

[cstaylor]

This sucks! I get paid offshore, so now my dollars won't buy me as many Asahi brewskies.

You don't have any cash here? You should move it back and take advantage of the nice exchange rate.

[Captain Japan]

This sucks! I get paid offshore, so now my dollars won't buy me as many Asahi brewskies.

Switch to happoshu.

Kamome, did I tell you how bad I'm going to kick your ass in fantasy football? Your squad has the biggest collection of inept slugs I've seen. Are you running a Japanese construction company or a football team? Prepare to be destroyed!

[cstaylor]

Yeah, what's up with that? Kamome pushes the fantasy football, and then ends up with a team worthy of the Cincinatti Bengals legacy.

(I'm just teasing, since I should have joined the game instead of quarterbacking from the sidelines. )

[kamome]

This sucks! I get paid offshore, so now my dollars won't buy me as many Asahi brewskies.

Switch to happoshu.

Kamome, did I tell you how bad I'm going to kick your ass in fantasy football? Your squad has the biggest collection of inept slugs I've seen. Are you running a Japanese construction company or a football team? Prepare to be destroyed!

Meanwhile, I'm 1-1 and the Captain is Mr. Cellar Dwellar at 0-2.

It would take true desperation to switch to Happoshu. Maybe if I were on the verge of homelessness...

You don't have any cash here? You should move it back and take advantage of the nice exchange rate.

Yeah, that makes a lot of financial sense.

[AlbertSiegel]

ACK!! The value is now @ 110.80!!!(as of 09/29/03 close) from 80 cents to 90 cents per 100YEN in just a month!! Just in time for my trip

Does anyone know if the exchange rate will go near what it was a month ago?

[ramchop]

I'm zipping over to Vietnam for a holiday next month. Sadly, funds in Japan are a bit short and I'll have to get money back from NZ. I want cash in $US. What's the best way to do this?

A few options:
1) Wire it directly to a friend's bank account in VN
2) Withdraw it in yen at an ATM which takes overseas cards and then change it to $US (don't suppose there are any ATMs that spit out $US are there?)
3) Look for an ATM in Vietnam.

[Captain Japan]

It would take true desperation to switch to Happoshu. Maybe if I were on the verge of homelessness...

Check that. The word is "hopelessness," and you're fantasy team is getting you there. That bunch of oafs moves as fast as a bridge club. Get out of the way, I'm steamrolling my way to the top!

Why not drown your sorrows in Asahi's new Aqua Blue happoshu? Surprise! It tastes like all the others...

[japslapper]

For those of us on FG that arn't American (50%) here is the link to Universal Currency converter......

http://www.xe.com/ucc/

[AssKissinger]

I'm zipping over to Vietnam for a holiday next month. Sadly, funds in Japan are a bit short and I'll have to get money back from NZ. I want cash in $US. What's the best way to do this?

A few options:
1) Wire it directly to a friend's bank account in VN
2) Withdraw it in yen at an ATM which takes overseas cards and then change it to $US (don't suppose there are any ATMs that spit out $US are there?)
3) Look for an ATM in Vietnam.

Final answer: 2. Seikai!


Make sure you bring US currency and small bills. A lot of ones especially and then fives and tens. You don't even need to change it into dong, you can pay for everything in dollars. They'll give dong for change.

[kamome]

Get out of the way, I'm steamrolling my way to the top!

Kamome: 2-1, 3rd place
Captain Japan: 0-3, bottom o' the barrel last

Week 5 matchup - Kamome vs Captain Japan

It's gonna' be a bloodbath.

[Taro Toporific]

ACK!! The value is now @ 110.80!!!(as of 09/29/03 close) ...
Does anyone know if the exchange rate will go near what it was a month ago?

Japan Spends Record to Weaken Currency
Tue yahoo.com/news / Sep 30, 1:35 PM ET
TOKYO - Japan spent more than 4 trillion yen ($36.2 billion) over the last month intervening in currency markets, adding to a record figure it has spent this year in an aggressive yen-weakening campaign that has been criticized by its trading partners.

Dollar snaps higher after reported Japanese intervention
The dollar rebounded from a three-year low against the yen after traders cited aggressive intervention in the currency markets by the US Federal Reserve at the request of Japan.
AFP - Sep 30 6:09 PM

[cstaylor]

Yeehaw, up to 111.

[Taro Toporific]

The World Report on BBC TV news at 8pm (JST) said to expect below 100yen/$1 for the near term of 3 months.

Bachground info
http://news.bbc.co.uk/1/hi/business/3154094.stm

[AlbertSiegel]

Geeze!!! It's at 108Yen to the Dollar! ??? !!

Anyone have any idea when things will go back to the normal 120???

Anyone know why the yes is changing so much so fast?

[Caustic Saint]

It's not so much that the yen is getting stronger through some economic magic in Japan - rather that the dollar's getting weaker do to America's economy.

If the US economy weakens, it's only natural for foreign currencies to get stronger. The South Korean won is currently at a 35-month high against the dollar, so it's more than just the yen gaining right now..

[devicenull]

Geeze!!! It's at 108Yen to the Dollar! ??? !!

Anyone have any idea when things will go back to the normal 120???

Anyone know why the yes is changing so much so fast?

japan stopped buying dollars to keep it artificially high. rather simple concept. if they are smart, japanese will invest in manufacturing and base it in america like they have done in china to some degree.

[Taro Toporific]

Market Wrap: Drunk and disorderly
Dec 11 10:41 by Jim Parker / afr.com
Like a drunk at the office Christmas party, the $US is a social outcast. But you can always count on Japan to stop it from falling face first into the canapes.
Seeing the greenback US leaning at multi-year lows, the Bank of Japan shouldered its way into global currency markets to stop the dollar's fall becoming disorderly....

[tonikoro]

As I sit here reading this, it makes me wonder.
for freelance work I'm doing the US that comes back to me in Yen, I guess it hurts a bit not getting a few more yen for the buck, but does this work in the reverse? -I mean, I'm wondering if now's the time to buy some bucks?

[Taro Toporific]

Yeehaw, up to 111.

GLOBAL MARKETS-Dollar hits new low versus euro, spurring gold
Forbes - Jan 5- The dollar sank to a record low against the euro on Monday, hit by persistent fears over the widening U.S. trade gap, sending gold prices to their highest in 14 years..
Suspected yen-selling by the Bank of Japan helped the dollar recover against the yen with the U.S. currency touching a session high of around 107.35 yen after falling to around 106.75, near its three-year low.

[AlbertSiegel]

heh... heh... not looking good now... nearly at the 105 level...

[Taro Toporific]

Geeze!!! It's at 108Yen to the Dollar! ??? !!
Anyone have any idea when things will go back to the normal 120???

PAY RAISE, PAY RAISE, WHOOPIE!

Dollar hits 41-month low of 105.40 yen in N.Y.
The U.S. dollar traded in the middle of the 105 yen level in New York on Monday after sinking to a low of 105.40 yen in early morning trading, its lowest level since September 2000.
(Kyodo) - Feb 3, 7:29 am[url]

[Blah Pete]

This sucks as I get paid in US$. I will have to give up my coke habbit if this keeps up and switch to sniffing glue or sinna.

[Taro Toporific]

I will have to give up my coke habbit if this keeps up and switch to sniffing glue or sinna.

My office orders shinna by the box of four jugs.( shinna = thinner = acetone)

But I kinda found of the jubs of this Shinna

[ramchop]

Is this bastard going to turn around in the next 2 months?:

Current Rate 76.86 Monday, March 01, 2004
High 76.86 Monday, March 01, 2004

[Taro Toporific]

Is this bastard going to turn around in the next 2 months?::

Japan Inc. might try to beat it down just before the end of the JPN fiscal year March 31. After that, the yen w'll float more, most likely higher.

OF COURSE, I just pulling this prediction out of my ass but that's the way the yen acts every year around March 31.