What's up with the value of the YEN?

[Taro Toporific]

DP

[Taro Toporific]

My neighbors have a couple of hens and a cock, but they're not so annoying. The ones my neighbor kept when I lived in Seattle were obnoxious, and drove the dogs nuts...especially my great dane, since he *could* look over the fence.

My black dane didn't hate chickens but he just hated quacking of ducks. He would chase my flock of Khaki Campbells into a tither.

[Mulboyne]

Anybody know who this bird is?

BOJ web site says:

Statue of Phoenix in Byodoin Temple

[Skankster]

-
-

It seems like all Japanese Oyaji are pro-republican

No, but look at the previous Democrat administrations, and you'll see an aversion to Japa-
n.

What exactly is an "aversion"
Statements do not get any more vague than that.

I mean this in a nice way -- that is completely bullshit.

Give me one concrete example of aversion. Im dying to hear this one.

and then for every example of extortion I will give you 2 examples of attention from the republican party toward Japan in the form of EXTORTION.
That does nothing for Japan.

[Captain Japan]

Tanigaki says Japan to act if forex moves rapid
Wed Nov 17, 2004 07:06 PM ET

TOKYO, Nov 18 (Reuters) - Japanese Finance Minister Sadakazu Tanigaki said on Thursday that Japan would take appropriate action if moves in the currency market were too rapid.

Asked whether he thought the recent rise in the yen was rapid, he told reporters: "If that is the case, we must take due action."

BOJ says strong yen no risk to Japan economy-paper
Thursday November 18, 3:39 AM

NEW YORK, Nov 17 (Reuters) - The Bank of Japan signaled that the yen's recent appreciation against the dollar is not an immediate concern for the world's second largest economy, the Nikkei Financial Daily said in an article to be published on Thursday.

"Honestly, I don't think a strong yen is a major risk factor for the economy," said a senior BOJ official quoted by the paper.

"The impact from the recent yen strength isn't likely to be big," the official added.

I think these guys ought to get their stories straight.

[Mulboyne]

That looks like the usual MoF/BoJ bitch fight. The Bank of Japan is not completely independent but they do fight hard to keep the final say on currency intervention and interest rate policy. I don't know who gets to choose banknote design.

[Taro Toporific]

103yen/$1 ! It's my X-mas bonus! And it keeps out the anime freakizoids. :P

Dollar Hits New Euro Low; Nikkei Falls
November 18, 2004 01:52:00 AM ET
SINGAPORE (Reuters) - The dollar hit a record low against the euro Thursday as traders bet officials would not act to stop its slide, sending gold to a fresh 16-year peak and hurting Japanese stocks as a stronger yen weighed on exporters.....
The U.S. currency skidded to an all-time low of around $1.3065 per euro in Tokyo trade and to a 7-1/2-month low of 103.75 yen.

[Taro Toporific]

[Down, down, down faster than Monica!
Dollar plunges to 102-yen level in New York
Mainichi Shimbun, Japan - Nov 20
NEW YORK -- The U.S. dollar plunged sharply in New York on Friday to hit the 102-yen level for the first time in four years and eight months.... The trend was fueled by prevailing observations that Japan will not intervene in the foreign exchange market to drive down the value of the yen and that the ...

[Captain Japan]

INTERVIEW/ Eisuke Sakakibara: Mr. Yen says look for 90 range against dollar
Asahi

Known as Mr. Yen, Eisuke Sakakibara, a professor at Keio University and former vice finance minister for international affairs, believes that as long as the market sees that the United States is relying on a dollar-weakening policy to reduce its huge deficit, the gradual weakening of the greenback will be inevitable.

In an interview with Asahi Shimbun senior staff writer Manabu Hara, Sakakibara said he thought the yen's rate against the dollar would climb to the 90-95 range within the next three to six months.

Q: The dollar has continued to weaken gradually on the currency market. What's the market's view of the dollar?

A: The major cause of the weakening dollar not only vis-a-vis the yen but also against other currencies stems from the U.S.'s huge twin deficits.

The U.S. deficit has accumulated under the current Bush administration, but the market now sees that the perception of Americans, including government authorities, business executives and economists, is that a weakening dollar is the only way to reduce the current account deficit in a relatively short period of time.

I don't know whether such a view is justified or not, but as long as that's their prevailing view, the dollar will inevitably weaken. I think that over the next three to six months the yen will rise to the range of 90 to 95 yen. The euro will rise to 1.40 to the dollar within the same period.

[Charles]

Hey, speaking of the Yen exchange rate, for quite a few years I've been looking for a graph of the rate from back before bubble days to today. But so far I've never been able to find any source that goes back more than 15 years. Ideally I'd like to find a chart graphed with weekly data back to about 1980, which IIRC the Yen was something like 280/$. If I can get the raw data, I'll just graph it myself in a spreadsheet. Anyone have any ideas where I could find something like this?

[Blah Pete]

Anyone have any ideas where I could find something like this?

Check this site:
[url]http://www.oanda.com/converter/classic?user=blacktokyo&lang=en
[/url]

I use to do all of my receipt conversions, etc. I plugged in dates back to 1974 and got the yen rate of the day.
They also convert all world currencies so when you get back from that killer Seoul, Shanghai, Singapore, Bangkok, Calcutta, Dubai, Athens, Rome, London and NY business trip you do do all of your receipt conversions on one site.
There are probably others out there too.

[Charles]

That's pretty close, Pete, but I really want to see the overall trends over time. I can get individual points of data but if I want to see weekly data points since say, 1975, I'd have to do about 1500 queries. I suppose I could automate it, but surely someone's got to have this graphed out, or in a convenient data set already prepared?

[Buraku]

[Charles]

Anybody know who this bird is?

BOJ web site says:

Statue of Phoenix in Byodoin Temple

BTW, I was browsing through the Kojiki and was reminded of what that bird is. It's the phoenix that called Amaterasu out from hiding in a cave, sparing the world from darkness. It's a long story.

[maraboutslim]

BTW, I was browsing through the Kojiki and was reminded of what that bird is. It's the phoenix that called Amaterasu out from hiding in a cave, sparing the world from darkness. It's a long story.

Is that really what it says in the Kojiki? I remember the story being that a mirror was placed facing the cave and some jewels were put around on a tree or something and then they danced and sang. Amaterasu came out to see what was going on and liked her reflection in the mirror (hey, she was the sun god after all and who doesn't like sunlight?) and stayed and the world was light again. I don't remember anything about a Phoenix (except from Greek mythology).

Where did I get my version? The Nihon Shoki?

[Charles]

Is that really what it says in the Kojiki? I remember the story being that a mirror was placed facing the cave and some jewels were put around on a tree or something and then they danced and sang. Amaterasu came out to see what was going on and liked her reflection in the mirror (hey, she was the sun god after all and who doesn't like sunlight?) and stayed and the world was light again. I don't remember anything about a Phoenix (except from Greek mythology).

Where did I get my version? The Nihon Shoki?

Let's see.. let me dig up the book and verify the details.. obviously this is a highly abridged summary, in English..

Looks like the same basic story, with the addition of the bird.
"..Susanoo insisted upon visiting the Sun Goddess in heaven to say goodbye before taking up his post. Upon arriving in heaven, Susanoo committed a series of offenses against his sister, such as breaking down her field-dividers, destroying her looms, and defecating in her palace. Outraged, the Sun Godddess, in a solar-eclipse type of myth sequence, secluded herself in a cave and plunged the world into darkness. To lure her out, the other deities of heaven prepared a program of riotous entertainment and placed a cock atop a perch, or torii, before the cave to signal its commencement. When the Sun Goddess, her curiousity aroused, peeped out, she was seized by a strong-armed deity who pulled her out into the open and thereby restored light to the world.
The torii, or bird perch, in this so-called 'rock cave' story became, it is believed, the entranceway to the Shinto Shrine of historical times.."

[Captain Japan]

Yen Near 5-Year High; Europe Calls for Higher Asian Currencies
Bloomberg

The yen traded near a five-year high against the dollar in Asia on speculation some European finance ministers will at a meeting today add to calls for Asia to accept stronger currencies.

Japan's currency may rise further as European policy makers demand Asia absorbs more of the dollar's drop because of a record trade deficit to ease pressure on the euro. The yen last week rallied against the dollar and the euro after European Central Bank Chief Economist Otmar Issing and President Jean-Claude Trichet voiced concern about the euro's strength.

``The yen will stay on solid ground as we're seeing European central bankers and politicians alike unifying to speak out against a stronger euro,'' said Shimpei Uike, an investor of overseas debt at Asahi Life Asset Management, which manages the equivalent of $10.5 billion.

The yen traded at 102.08 against the dollar as of 11:30 a.m. in Tokyo, from 102.02 late on Jan. 14 in New York, according to electronic foreign-exchange trading system EBS. On Jan. 14 it rose as far as 101.78, the strongest since January 2000. The yen may gain beyond 101 per dollar this week, Tokyo-based Uike said.

[Taro Toporific]

Warren Buffett sees no way but down for US dollar
AFP Thursday January 20, 3:28 AM
The dollar cannot avoid further declines against other major currencies unless the US trade and current account deficits improve, legendary investor and businessman Warren Buffett said.
"I think, over time, unless we have a major change in trade policies, I don't see how the dollar avoids going down," the world's second-richest individual told CNBC television.
"I don't know when it happens. I don't have any idea whether it will be this month or this year or next year, but we are force-feeding dollars on to the rest of the world at the rate of close to a couple billion dollars a day, and that's going to weigh on the dollar."
Buffett noted the record US deficit of 164.7 billion dollars in the third quarter of 2004 in the current account, which measures trade and investment flows.
Buffett, nicknamed the Oracle of Omaha for his investment acumen, has a net worth of some 41 billion dollars, second only to Microsoft chief Bill Gates, according to Forbes magazine. But he said he saw few opportunities in the near term....more...

[Captain Japan]

Sakakibara Says Japan Shouldn't Halt Yen Gain to 95 Per Dollar
Bloomberg

Feb. 17 (Bloomberg) -- The yen may rise as much as 10 percent to 95 a dollar this year and the government shouldn't try to halt the advance, Japan's former currency policy chief Eisuke Sakakibara said.

A 2.4 percent slide in Japan's currency this year ``is over,'' and it will gain past 100 to the dollar in the next few months as investors realize the U.S. Federal Reserve will stop raising interest rates, Sakakibara said in an interview yesterday in Tokyo.

The Japanese economy can cope with a stronger currency, and the yen may appreciate as far as 90 per dollar before the Ministry of Finance takes action to stop it, he said. Gains in the currency can slow economic growth by eroding the profits exporters earn on overseas sales.

``Breaking 100 is just a natural market move, which authorities should let happen,'' Sakakibara said. A level of ``95 yen for the Japanese economy at this moment is not disastrous. If it goes beyond 90, and goes to 80 or 70, I would recommend intervening,'' or selling the currency....the rest...

[Mels]

Damn, I miss the days the yen was 360 to the $

[ichigo partygirl]

Damn, I miss the days the yen was 360 to the $

WOW.
dont even think about complaining about the exchange rate!!!!
When i came to japan four years ago i got 50yen =$1 NZ. the NZ dollar is soo weak. at the mo it is 74yen=$1 and thats awesome for me. im so jelous of all you FGs from the UK and the US being able to get such good rates. the rates my suck for you now, but us folks in NZ are always going to be way worse off than you!!!

[Taro Toporific]

Yen May Climb on Speculation Index to Signal Recovery in Japan
March 9 (Bloomberg) -- The yen may rise for a third day in four against the dollar in Asia on speculation a government report today will show an index of Japan's economic indicators rose, signaling a recovery in the world's second-biggest economy. Japan's currency has risen 2.2 percent since trading at a three-month low against the dollar on Feb. 10 on signs the economy is pulling out of its fourth recession since 1991. A government report yesterday showed the country's full-time workers increased in number for the first time since 1997. The Nikkei 225 Stock Average rose for the ninth day in 10.
``Stocks are going to be part of the positive yen story,'' said Naomi Fink, a currency strategist in Tokyo at BNP Paribas SA. Investors see ``a continued domestic recovery in Japan.''
Against the dollar, the yen traded at 104.68 at 1:04 p.m. in Tokyo, from 104.67 late yesterday in New York, according to electronic currency-dealing system EBS. It was also at 139.66 per euro, from 139.71. The yen may rise beyond 100 per dollar this year, Fink said. ...more...

[Captain Japan]

The yen may rise for a third day in four against the dollar in Asia on speculation a government report today will show an index of Japan's economic indicators rose, signaling a recovery in the world's second-biggest economy.

The government has been hoping, praying, talking about, cheering for this "recovery" for about 15 years now. It never happens, no matter the data released. And nobody ever calls them on this folly either, instead sticking with the same wording: recovery. That is amazing. At what point down the line - 20 years? 50 years? - do we finally stop with the recovery bullshit and get to say, "Japan, you just plain suck."

[mr. sparkle]

The yen may rise beyond 100 per dollar this year, Fink said

Don't make me come over there and demand to be paid in Yen now!

Dang dude...I just did!

I just applied for the position called some'm like Technical Trainer-Customer Training Associate. Pretty much a sales support position for broadcast, educational, medium sized businesses in the Big T. This is for the big cash. Bring on the phat ex-pat package and Shinjuku bachelor pad in the sky, baby!

Oh crap, what did I just do?

Hey, ya never know....it could happen.

[Taro Toporific]

... Bring on the phat ex-pat package and Shinjuku bachelor pad in the sky, baby!

Keep on smorking the sacred Jingu Taima, Mr. Sparkle.
I swear that companies only give The Package to guys whose wives would loathe it here.

Taima-shuhatsu-shiki

The ceremony to purify the new Jingu Taima and amulets once every week.
http://www.isejingu.or.jp/english/maturi/36b.htm

[mr. sparkle]

The ceremony is held at Kaguraden, Naiku to report to the kami the beginning of the distribution of Jingu Taima and the calendar to worshipers.

If I do make it there, I will seek out that Taima festival if it's the last thing I do.

Hey, my phat "contract" is ending...I gotta do something....why not gun for the big yen?

However, it's true, your phat expat package grows when you have to sign up the kids for school, have your car shipped (or get the allowance to recoup the losses of up to 2 cars), have the wife take classes for "what will I do?", and sell the property. Hmm...I'm gonna study these pages a bit more.

Until then, it's "Time for Taima!"

[Taro Toporific]

The government has been hoping, praying, talking about, cheering for this "recovery" for about 15 years now. It never happens, no matter the data released. And nobody ever calls them on this folly either, instead sticking with the same wording: recovery. That is amazing. At what point down the line - 20 years? 50 years? - do we finally stop with the recovery bullshit and get to say, "Japan, you just plain suck."

Japan's GDP Probably Shrank 0.6 Percent in Fourth Quarter on Spending Cuts
Bloomberg Fri Mar 11 2005 07:05:00 GMT+0900 (Tokyo Standard Time)
http://quote.bloomberg.com/apps/news?pid=10000080&sid=aZTFfIAzoFUI

[mr. sparkle]

I just applied for the position called some'm like Technical Trainer-Customer Training Associate.

I didn't get the position, but my info got passed to another manager that likes my qualifications. That was cool that they actually answered my email to tell me that.

I'll keep my irons in the virtual fire, I guess.

[Buraku]

A good low-down on the economy & yen trouble

not to keep spreading doom and gloom, but I'll wager at least 1 Euro or one dollar that the Japanese economy is going to keep slumping. The Nikkei shouldn't be used as a index of Japanese recovery. Its dominated by big companies like sony which produce most of their units outside of the Japan for export into the US. The only reason why its doing better is because consumer spending is marginally higher in the US this year over the recession years in 2000~2002. Its really sad to watch Japan go from an economic powerhouse of its own accord to being utterly reliant on the domestic market of the United States for economic growth. Koizumi has actually adversly affected the domestic market by artificially keeping the Japanese Yen low against the dollar. For a state that is utterly reliant on foreign trade to keep it alive (such as 40% of its food, most of its raw materials and petroleum ect), lowering the Yen decreases the ability of the consumer to pay for these objects, which makes them spend less overall. Traditional Macro economic leavers such as interest rates don't work, as the interest rate now is at zero percent with no growth. Even making more money hasn't work as the Bank of Japan has been buy more bonds and deflation continues (as well as no growth). Government spending has been compeltely mis accrued in to more construction projects which doesn't help consumer spending. And the limitless money pool that Japan has is fast drying up Public Debt now is at 135% GDP. Although most of this is locked up in the Japan, its getting to the point (called the debt trap) where growth in Japan cannot offset the cost of the debt, which is a very scary prospect. Here I'll quote a Economist article because it says it better.

That quote was from Jref, I won't bother quoting the long economist article except to say it went a little like this
>> a major Japan problem is with the banking/money area where Koizumi has done NOTHING to resolve the banking crisis & rising debts as a result we still have Billions in bad loans
...and its growing fast

when will japan be bankrupt ?

http://www.jref.com/forum/showthread.php?t=609

http://www.findarticles.com/p/articles/mi_m2633/is_4_14/ai_64564011

japan today forum link

http://www.asiapacificms.com/articles/japan_yakuza_banks/

[AssKissinger]

Stupid joke time:

An Asian man was trying to exchange yen for dollars and asks the
American bank teller, "Why it change? Yestoday I get two hunat
dollar fo yen - today I get hunat eighty? The bank teller says,
"Fluctuations." The Asian man says, "Fluc you white guys too!"!"